Resona Asset Management Co. Ltd. Takes Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Resona Asset Management Co. Ltd. bought a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 54,827 shares of the real estate investment trust's stock, valued at approximately $559,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP bought a new position in Empire State Realty Trust during the fourth quarter worth $105,000. Quadrature Capital Ltd acquired a new stake in shares of Empire State Realty Trust in the 3rd quarter valued at about $115,000. Inspire Advisors LLC bought a new stake in Empire State Realty Trust in the 4th quarter valued at about $125,000. Cibc World Markets Corp acquired a new position in Empire State Realty Trust during the 4th quarter worth approximately $132,000. Finally, Longboard Asset Management LP bought a new position in Empire State Realty Trust in the fourth quarter worth approximately $137,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ESRT has been the topic of a number of research reports. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Empire State Realty Trust presently has an average rating of "Hold" and a consensus price target of $11.00.

Insider Buying and Selling

In other news, EVP Thomas P. Durels sold 5,779 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the transaction, the executive vice president now owns 56,028 shares of the company's stock, valued at $449,904.84. This represents a 9.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 30,122 shares of company stock valued at $242,761. 13.95% of the stock is owned by company insiders.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock traded up $0.08 during mid-day trading on Wednesday, hitting $7.09. 126,726 shares of the stock were exchanged, compared to its average volume of 1,362,383. The company has a market capitalization of $1.19 billion, a P/E ratio of 25.30 and a beta of 1.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The company has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $9.71. Empire State Realty Trust, Inc. has a 12 month low of $6.56 and a 12 month high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Sell-side analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.98%. Empire State Realty Trust's payout ratio is currently 50.00%.

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.