Lighthouse Investment Partners LLC Acquires Shares of 845,000 Empire State Realty Trust, Inc. (NYSE:ESRT)

Lighthouse Investment Partners LLC acquired a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 845,000 shares of the real estate investment trust's stock, valued at approximately $7,926,000. Lighthouse Investment Partners LLC owned about 0.51% of Empire State Realty Trust at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Empire State Realty Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust's stock worth $195,387,000 after purchasing an additional 175,718 shares during the period. Wellington Management Group LLP grew its position in shares of Empire State Realty Trust by 19.3% during the 4th quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust's stock worth $56,409,000 after buying an additional 943,593 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Empire State Realty Trust by 36.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust's stock valued at $23,910,000 after acquiring an additional 663,159 shares during the last quarter. Norges Bank bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at about $8,571,000. Finally, Bank of New York Mellon Corp raised its position in shares of Empire State Realty Trust by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust's stock valued at $7,959,000 after acquiring an additional 37,370 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESRT has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Wednesday, September 11th. StockNews.com downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th.

Empire State Realty Trust Stock Down 0.2 %

ESRT traded down $0.02 on Friday, hitting $10.95. 889,136 shares of the company were exchanged, compared to its average volume of 1,130,249. The stock's fifty day moving average is $10.56 and its 200-day moving average is $9.87. Empire State Realty Trust, Inc. has a 12 month low of $7.25 and a 12 month high of $11.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market cap of $1.81 billion, a PE ratio of 36.50, a PEG ratio of 6.70 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.14). The company had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the prior year, the company posted $0.26 EPS. Equities research analysts predict that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.28%. Empire State Realty Trust's dividend payout ratio is presently 46.67%.

About Empire State Realty Trust

Empire State Realty Trust, Inc NYSE: ESRT is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building - the "World's Most Famous Building" - includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.