Longboard Asset Management LP Invests $137,000 in Empire State Realty Trust, Inc. (NYSE:ESRT)

Longboard Asset Management LP acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,244 shares of the real estate investment trust’s stock, valued at approximately $137,000.

Several other large investors also recently added to or reduced their stakes in the stock. abrdn plc raised its stake in shares of Empire State Realty Trust by 36.6% during the fourth quarter. abrdn plc now owns 39,604 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 10,608 shares in the last quarter. Jennison Associates LLC bought a new stake in Empire State Realty Trust during the 4th quarter valued at $791,000. Custom Index Systems LLC lifted its holdings in shares of Empire State Realty Trust by 17.3% in the 4th quarter. Custom Index Systems LLC now owns 19,292 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 2,845 shares during the period. Vert Asset Management LLC grew its position in shares of Empire State Realty Trust by 4.5% during the 4th quarter. Vert Asset Management LLC now owns 55,749 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 2,400 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Empire State Realty Trust by 22.3% during the fourth quarter. Inspire Investing LLC now owns 45,771 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 8,346 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. This represents a 10.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 14.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ESRT. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. BMO Capital Markets increased their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

Empire State Realty Trust Trading Up 0.4 %

Shares of NYSE ESRT opened at $9.53 on Wednesday. The business has a fifty day moving average price of $10.20 and a 200 day moving average price of $10.54. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $1.59 billion, a P/E ratio of 35.28 and a beta of 1.40.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

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.