MQS Management LLC Makes New $172,000 Investment in Empire State Realty Trust, Inc. (NYSE:ESRT)

MQS Management LLC acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,977 shares of the real estate investment trust’s stock, valued at approximately $172,000.

A number of other institutional investors have also made changes to their positions in ESRT. Wellington Management Group LLP grew its holdings in Empire State Realty Trust by 19.3% during the 4th quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock valued at $56,409,000 after purchasing an additional 943,593 shares in the last quarter. Norges Bank acquired a new stake in shares of Empire State Realty Trust during the fourth quarter valued at about $8,571,000. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Empire State Realty Trust by 36.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust’s stock worth $23,910,000 after acquiring an additional 663,159 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Empire State Realty Trust by 4,430.5% in the fourth quarter. Federated Hermes Inc. now owns 334,167 shares of the real estate investment trust’s stock worth $3,238,000 after acquiring an additional 326,791 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Empire State Realty Trust in the first quarter valued at about $2,896,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on ESRT shares. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. BMO Capital Markets raised their price target on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.25.

Empire State Realty Trust Stock Performance

ESRT stock traded down $0.13 during midday trading on Thursday, reaching $10.54. The company had a trading volume of 2,592,845 shares, compared to its average volume of 1,061,121. The firm has a market capitalization of $1.74 billion, a PE ratio of 34.57, a P/E/G ratio of 6.79 and a beta of 1.40. The stock has a 50 day moving average price of $9.55 and a 200 day moving average price of $9.65. Empire State Realty Trust, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $11.20. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 6.51% and a return on equity of 2.85%. The company had revenue of $189.54 million for the quarter. During the same period in the prior year, the company earned $0.26 EPS. Analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, June 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Empire State Realty Trust Company 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.