Empire State Realty Trust, Inc. (NYSE:ESRT) Stake Raised by Man Group plc

Man Group plc increased its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 105.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 803,671 shares of the real estate investment trust’s stock after acquiring an additional 413,266 shares during the period. Man Group plc owned about 0.48% of Empire State Realty Trust worth $8,294,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of Empire State Realty Trust by 819.7% during 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 buying an additional 3,828 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $105,000. XTX Topco Ltd acquired a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $110,000. NewEdge Advisors LLC acquired a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $117,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Empire State Realty Trust during the 4th quarter valued at about $125,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Stock Performance

ESRT opened at $7.65 on Tuesday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 27.32 and a beta of 1.60. The stock’s 50 day moving average price is $7.48 and its two-hundred day moving average price is $9.09. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last released its 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 return on equity of 2.84% and a net margin of 6.45%. The firm had revenue of $154.54 million for the quarter. On average, equities analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed 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 1.83%. The ex-dividend date of this dividend is Friday, June 13th. Empire State Realty Trust’s payout ratio is presently 46.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ESRT shares. Wolfe Research upgraded Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Tuesday, March 25th. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Company cut their price objective on Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating on the stock in a research note on Monday. Finally, Citigroup reissued a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.43.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of Empire State Realty Trust stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the sale, the executive vice president now owns 56,028 shares of the company’s stock, valued at approximately $449,904.84. This trade represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 30,122 shares of company stock valued at $242,761. 14.60% of the stock is owned by corporate insiders.

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.