Arrowstreet Capital Limited Partnership Grows Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Arrowstreet Capital Limited Partnership raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 16.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,596,894 shares of the real estate investment trust’s stock after purchasing an additional 227,953 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Empire State Realty Trust were worth $16,480,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Empire State Realty Trust by 392.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after acquiring an additional 875,836 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock worth $204,800,000 after purchasing an additional 461,421 shares during the last quarter. Norges Bank acquired a new stake in shares of Empire State Realty Trust in the 4th quarter valued at about $4,725,000. Barclays PLC lifted its position in shares of Empire State Realty Trust by 133.2% during the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after purchasing an additional 173,965 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its stake in Empire State Realty Trust by 143.8% in the fourth quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust’s stock worth $2,711,000 after purchasing an additional 154,920 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Performance

Shares of NYSE ESRT opened at $7.23 on Friday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $9.96. Empire State Realty Trust, Inc. has a 52-week low of $6.95 and a 52-week high of $11.62. The stock has a market capitalization of $1.21 billion, a P/E ratio of 25.80 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. As a group, sell-side 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 was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.94%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Insider Activity at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 5,779 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the transaction, the executive vice president now directly owns 56,028 shares of the company’s stock, valued at $449,904.84. This represents a 9.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 30,122 shares of company stock worth $242,761 in the last ninety days. 14.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ESRT shares. Wolfe Research raised 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 report on Tuesday, March 25th. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday.

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.