Inspire Investing LLC Has $433,000 Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Inspire Investing LLC raised its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 30.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,180 shares of the real estate investment trust’s stock after purchasing an additional 10,759 shares during the quarter. Inspire Investing LLC’s holdings in Empire State Realty Trust were worth $433,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Empire State Realty Trust by 2.9% during the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 1,083 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Empire State Realty Trust by 5.4% in the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 1,221 shares during the period. Federated Hermes Inc. increased its position in shares of Empire State Realty Trust by 0.4% in the second quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 1,428 shares during the period. ProShare Advisors LLC increased its position in shares of Empire State Realty Trust by 8.5% in the first quarter. ProShare Advisors LLC now owns 23,747 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 1,868 shares during the period. Finally, Vert Asset Management LLC increased its position in shares of Empire State Realty Trust by 3.9% in the first quarter. Vert Asset Management LLC now owns 54,897 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 2,050 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ESRT has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $11.01 on Friday. Empire State Realty Trust, Inc. has a 12-month low of $7.25 and a 12-month high of $11.36. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $9.82. The stock has a market cap of $1.82 billion, a PE ratio of 36.70, a P/E/G ratio of 6.11 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). The firm had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the prior year, the business posted $0.26 EPS. As a group, analysts expect that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 1.27%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 46.67%.

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.