NewEdge Advisors LLC Acquires New Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

NewEdge Advisors LLC bought a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,371 shares of the real estate investment trust’s stock, valued at approximately $117,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake in shares of Empire State Realty Trust by 8.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 14,263 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 1,131 shares in the last quarter. State of Alaska Department of Revenue raised its position in Empire State Realty Trust by 2.7% in the fourth quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 1,722 shares in the last quarter. Vert Asset Management LLC lifted its holdings in Empire State Realty Trust by 4.5% in the 4th quarter. Vert Asset Management LLC now owns 55,749 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 2,400 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Empire State Realty Trust by 22.8% during the 4th 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 in the last quarter. Finally, Custom Index Systems LLC grew its stake in shares of Empire State Realty Trust by 17.3% in the 4th quarter. Custom Index Systems LLC now owns 19,292 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 2,845 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Up 2.6 %

Shares of Empire State Realty Trust stock opened at $7.39 on Friday. 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 1 year low of $6.56 and a 1 year high of $11.62. The stock has a 50-day moving average price of $7.71 and a 200 day moving average price of $9.38. The company has a market cap of $1.24 billion, a P/E ratio of 26.39 and a beta of 1.60.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. The business had revenue of $154.54 million during the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given 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 yield of 1.89%. Empire State Realty Trust’s payout ratio is 46.67%.

Insider Buying and Selling at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 11,843 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.02, for a total value of $94,980.86. Following the completion of the sale, the executive vice president now directly owns 44,185 shares of the company’s stock, valued at $354,363.70. The trade was a 21.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 30,122 shares of company stock worth $242,761 over the last 90 days. 14.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on ESRT shares. 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. Citigroup reiterated a “neutral” rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Finally, StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.00.

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.