Victory Capital Management Inc. Has $2.30 Million Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Victory Capital Management Inc. grew its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 41.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,910 shares of the real estate investment trust’s stock after buying an additional 72,241 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Empire State Realty Trust worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Scotia Capital Inc. bought a new position in Empire State Realty Trust during the 4th quarter worth approximately $123,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Empire State Realty Trust in the 1st quarter valued at $143,000. Quest Partners LLC bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at $157,000. QRG Capital Management Inc. raised its stake in Empire State Realty Trust by 20.5% during the 4th quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 2,776 shares during the period. Finally, MQS Management LLC bought a new position in Empire State Realty Trust during the first quarter worth about $172,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Performance

ESRT opened at $10.87 on Wednesday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 6.11 and a beta of 1.40. The business’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $9.79. Empire State Realty Trust, Inc. has a 1 year low of $7.25 and a 1 year high of $11.20. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24.

Empire State Realty Trust (NYSE:ESRT) last announced its earnings results 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 5.89% and a return on equity of 2.57%. The firm had revenue of $189.54 million during the quarter. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts expect that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust’s payout ratio is 46.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wells Fargo & Company increased their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

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.