Ethic Inc. Takes Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Ethic Inc. acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) during the fourth quarter, Holdings Channel reports. The fund acquired 13,213 shares of the real estate investment trust’s stock, valued at approximately $136,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESRT. Vanguard Group Inc. grew its stake in shares of Empire State Realty Trust by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock worth $204,800,000 after purchasing an additional 461,421 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock worth $95,306,000 after purchasing an additional 2,750,045 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Empire State Realty Trust by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock worth $38,394,000 after purchasing an additional 90,758 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Empire State Realty Trust by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock worth $35,302,000 after purchasing an additional 13,045 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock worth $26,835,000 after purchasing an additional 771,017 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Thomas P. Durels sold 12,500 shares of Empire State Realty Trust stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total transaction of $101,375.00. Following the completion of the transaction, the executive vice president now directly owns 74,307 shares in the company, valued at approximately $602,629.77. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 30,122 shares of company stock worth $242,761. Insiders own 14.60% of the company’s stock.

Analyst Ratings Changes

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

Empire State Realty Trust Stock Performance

Shares of ESRT opened at $7.81 on Monday. 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 one year low of $6.56 and a one year high of $11.62. The company has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $9.11. The firm has a market capitalization of $1.32 billion, a PE ratio of 27.88 and a beta of 1.60.

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

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.79%. Empire State Realty Trust’s payout ratio is 46.67%.

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.