Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 47.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,367 shares of the real estate investment trust’s stock after buying an additional 10,091 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Empire State Realty Trust were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. increased its position in Empire State Realty Trust by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 152,165 shares of the real estate investment trust’s stock worth $1,570,000 after purchasing an additional 5,287 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Empire State Realty Trust by 2.7% during 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 purchasing an additional 1,722 shares in the last quarter. Longboard Asset Management LP acquired a new position in shares of Empire State Realty Trust during the fourth quarter worth about $137,000. abrdn plc lifted its stake in shares of Empire State Realty Trust by 36.6% during the fourth quarter. abrdn plc now owns 39,604 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 10,608 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Empire State Realty Trust in the fourth quarter worth about $791,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction on 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 represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ESRT. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. BMO Capital Markets upped their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $9.21 on Thursday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 34.11 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, Inc. has a 12-month low of $8.78 and a 12-month high of $11.62. The business has a 50 day simple moving average of $10.02 and a 200 day simple moving average of $10.49.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.035 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.52%. Empire State Realty Trust’s dividend payout ratio (DPR) is 51.85%.

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.