Wells Fargo & Company MN boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,024 shares of the real estate investment trust's stock after acquiring an additional 84,871 shares during the quarter. Wells Fargo & Company MN owned 0.14% of Empire State Realty Trust worth $2,343,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Versor Investments LP acquired a new position in Empire State Realty Trust in the 4th quarter worth about $105,000. Inspire Advisors LLC acquired a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $125,000. Cibc World Markets Corp purchased a new position in shares of Empire State Realty Trust during the 4th quarter valued at approximately $132,000. Longboard Asset Management LP acquired a new stake in Empire State Realty Trust in the 4th quarter valued at $137,000. Finally, Ballentine Partners LLC increased its holdings in Empire State Realty Trust by 22.8% in the 4th quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust's stock worth $148,000 after acquiring an additional 2,668 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ESRT has been the topic of several research analyst reports. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Wolfe Research upgraded 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. Finally, Citigroup reiterated a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.00.
Get Our Latest Report on ESRT
Empire State Realty Trust Price Performance
Shares of Empire State Realty Trust stock traded down $0.27 on Tuesday, hitting $6.95. 4,499,547 shares of the company were exchanged, compared to its average volume of 1,209,178. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $7.83 and a 200 day moving average price of $9.46. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 24.82 and a beta of 1.39. Empire State Realty Trust, Inc. has a 1-year low of $6.56 and a 1-year high of $11.62.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, sell-side analysts predict 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.01%. Empire State Realty Trust's dividend payout ratio is currently 50.00%.
Insider Activity
In other news, EVP Thomas P. Durels sold 5,779 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.03, for a total value of $46,405.37. Following the transaction, the executive vice president now directly owns 56,028 shares in the company, valued at approximately $449,904.84. This represents a 9.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 30,122 shares of company stock valued at $242,761. 14.60% of the stock is currently owned by company insiders.
Empire State Realty Trust Profile
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Free Report)
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.
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