Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,596,894 shares of the real estate investment trust’s stock after purchasing an additional 227,953 shares during the period. Arrowstreet Capital Limited Partnership owned 0.96% of Empire State Realty Trust worth $16,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Empire State Realty Trust during the third quarter valued at approximately $25,000. Versor Investments LP acquired a new stake in shares of Empire State Realty Trust during the fourth quarter worth $105,000. Quadrature Capital Ltd purchased a new stake in shares of Empire State Realty Trust in the third quarter valued at $115,000. Inspire Advisors LLC purchased a new stake in shares of Empire State Realty Trust in the fourth quarter valued at $125,000. Finally, Cibc World Markets Corp acquired a new position in Empire State Realty Trust in the fourth quarter valued at $132,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday. Wolfe Research upgraded 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 report on Tuesday, March 25th.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total value of $101,375.00. Following the completion of the sale, the executive vice president now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 30,122 shares of company stock worth $242,761. 14.01% of the stock is currently owned by corporate insiders.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock opened at $7.23 on Friday. The business’s fifty day moving average price is $8.66 and its 200 day moving average price is $9.96. Empire State Realty Trust, Inc. has a twelve month low of $6.95 and a twelve month high of $11.62. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $1.21 billion, a P/E ratio of 25.80 and a beta of 1.39.

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

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

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.