Sterling Capital Management LLC Raises Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Sterling Capital Management LLC lifted its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 819.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,295 shares of the real estate investment trust’s stock after buying an additional 3,828 shares during the period. Sterling Capital Management LLC’s holdings in Empire State Realty Trust were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Versor Investments LP acquired a new stake in Empire State Realty Trust in the fourth quarter valued at $105,000. Inspire Advisors LLC acquired a new stake in Empire State Realty Trust in the 4th quarter valued at about $125,000. Cibc World Markets Corp purchased a new position in Empire State Realty Trust during the 4th quarter valued at about $132,000. Longboard Asset Management LP purchased a new stake in shares of Empire State Realty Trust in the fourth quarter valued at about $137,000. Finally, Ballentine Partners LLC grew its position in shares of Empire State Realty Trust by 22.8% in the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,668 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $7.10 on Friday. The stock has a fifty day moving average price of $7.91 and a 200 day moving average price of $9.54. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62. The firm has a market capitalization of $1.19 billion, a P/E ratio of 25.34 and a beta of 1.39.

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

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust’s payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ESRT. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Citigroup reaffirmed a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 5,779 shares of the business’s stock in a transaction that occurred 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 directly owns 56,028 shares of the company’s stock, valued at approximately $449,904.84. The trade was a 9.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 30,122 shares of company stock valued at $242,761. Company insiders own 14.60% of the company’s stock.

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.