37,693 Shares in Empire State Realty Trust, Inc. (NYSE:ESRT) Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,693 shares of the real estate investment trust’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ESRT. Sterling Capital Management LLC lifted its holdings in shares of Empire State Realty Trust by 819.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 3,828 shares during the last quarter. Versor Investments LP purchased a new stake in Empire State Realty Trust during the fourth quarter valued at approximately $105,000. XTX Topco Ltd bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $110,000. NewEdge Advisors LLC purchased a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $117,000. Finally, Inspire Advisors LLC bought a new position in shares of Empire State Realty Trust during the 4th quarter valued at approximately $125,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ESRT. 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 on the stock in a research note on Tuesday, March 25th. Citigroup reissued a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of Empire State Realty Trust stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total value of $101,375.00. Following the sale, the executive vice president now owns 74,307 shares in the company, valued at $602,629.77. This trade represents a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 30,122 shares of company stock worth $242,761 in the last 90 days. Corporate insiders own 14.60% of the company’s stock.

Empire State Realty Trust Stock Up 1.1 %

Empire State Realty Trust stock opened at $7.20 on Friday. The business has a fifty day moving average price of $7.74 and a 200-day moving average price of $9.40. Empire State Realty Trust, Inc. has a 1-year low of $5.44 and a 1-year high of $11.62. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 25.70 and a beta of 1.39. 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 (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (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. Equities research analysts forecast 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 declared 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 annualized dividend and a yield of 1.95%. 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.