Northern Trust Corp Has $26.84 Million Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Northern Trust Corp raised its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 42.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,600,328 shares of the real estate investment trust’s stock after purchasing an additional 771,017 shares during the period. Northern Trust Corp owned 1.56% of Empire State Realty Trust worth $26,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,828 shares during the last quarter. Versor Investments LP acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at $105,000. XTX Topco Ltd acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at $110,000. NewEdge Advisors LLC acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at $117,000. Finally, Inspire Advisors LLC acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at $125,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. 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 on the stock in a report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Citigroup restated a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

Empire State Realty Trust Trading Down 0.4%

ESRT stock opened at $7.34 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The company’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $9.22. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62. The company has a market capitalization of $1.23 billion, a PE ratio of 26.21 and a beta of 1.60.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $154.54 million for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.91%. Empire State Realty Trust’s payout ratio is 46.67%.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 5,779 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares in the company, valued at $449,904.84. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 30,122 shares of company stock worth $242,761 over the last ninety days. Corporate 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.