Principal Financial Group Inc. Buys 9,478 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Principal Financial Group Inc. boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,491 shares of the real estate investment trust’s stock after purchasing an additional 9,478 shares during the period. Principal Financial Group Inc.’s holdings in Empire State Realty Trust were worth $1,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vision Capital Corp raised its stake in 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 valued at $31,057,000 after buying an additional 1,245,211 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Empire State Realty Trust by 392.0% in the 3rd 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. Barclays PLC grew its holdings in shares of Empire State Realty Trust by 133.2% in the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after acquiring an additional 173,965 shares during the period. Charles Schwab Investment Management Inc. lifted 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 during the period. Finally, Jane Street Group LLC boosted its position in Empire State Realty Trust by 95.4% in the third quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock worth $2,533,000 after purchasing an additional 111,589 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Trading Up 1.5 %

NYSE:ESRT opened at $8.68 on Thursday. Empire State Realty Trust, Inc. has a one year low of $8.49 and a one year high of $11.62. The business has a fifty day moving average price of $9.51 and a 200-day moving average price of $10.34. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 30.98 and a beta of 1.40. 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 (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Insiders Place Their Bets

In related news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the sale, the executive vice president now owns 86,807 shares in the company, valued at approximately $876,750.70. This trade represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.95% of the company’s stock.

Analysts Set New Price Targets

ESRT has been the subject of a number of recent research reports. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday. BMO Capital Markets raised their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust 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.