Benin Management CORP boosted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT – Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,800 shares of the real estate investment trust’s stock after buying an additional 2,500 shares during the period. Benin Management CORP’s holdings in Empire State Realty Trust were worth $241,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealthstream Advisors Inc. purchased a new stake in Empire State Realty Trust in the second quarter worth about $94,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Empire State Realty Trust in the second quarter worth about $557,000. Nordea Investment Management AB lifted its holdings in Empire State Realty Trust by 38.2% in the second quarter. Nordea Investment Management AB now owns 1,135,511 shares of the real estate investment trust’s stock worth $9,112,000 after buying an additional 314,113 shares during the period. CWM LLC lifted its holdings in Empire State Realty Trust by 1,704.7% in the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,671 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Empire State Realty Trust by 11.0% in the second quarter. Inspire Investing LLC now owns 48,559 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 4,816 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Empire State Realty Trust in a report on Tuesday, October 14th. Wall Street Zen upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.43.
Empire State Realty Trust Price Performance
ESRT stock opened at $7.69 on Wednesday. The firm has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.63. Empire State Realty Trust, Inc. has a 52-week low of $6.56 and a 52-week high of $11.55. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 32.02 and a beta of 1.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03.
Empire State Realty Trust (NYSE:ESRT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The company had revenue of $153.54 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.8%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 58.33%.
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.
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