abrdn plc Grows Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

abrdn plc grew its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 36.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,604 shares of the real estate investment trust’s stock after purchasing an additional 10,608 shares during the quarter. abrdn plc’s holdings in Empire State Realty Trust were worth $400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Empire State Realty Trust by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after acquiring an additional 171,056 shares in the last quarter. Geode Capital Management LLC increased its position in Empire State Realty Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock valued at $37,756,000 after acquiring an additional 38,529 shares during the period. Vision Capital Corp raised its position in shares of Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after buying an additional 1,245,211 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock valued at $17,905,000 after buying an additional 98,850 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock worth $12,180,000 after buying an additional 875,836 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $9.35 on Wednesday. The stock has a fifty day moving average price of $10.05 and a two-hundred day moving average price of $10.49. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust, Inc. has a 52-week low of $8.78 and a 52-week high of $11.62. The firm has a market capitalization of $1.56 billion, a P/E ratio of 34.63 and a beta of 1.40.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s payout ratio is currently 51.85%.

Insider Activity

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total value of $34,803.70. Following the transaction, the executive vice president now directly owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.95% of the stock is currently owned by corporate insiders.

Empire State Realty Trust Company Profile

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.