Intech Investment Management LLC Takes $385,000 Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Intech Investment Management LLC purchased a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 34,736 shares of the real estate investment trust’s stock, valued at approximately $385,000.

A number of other large investors have also made changes to their positions in the stock. Natixis Advisors LLC acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth about $844,000. Metis Global Partners LLC grew its position in shares of Empire State Realty Trust by 38.8% during the third quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 3,987 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Empire State Realty Trust by 7.3% in the third quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust’s stock worth $2,911,000 after purchasing an additional 17,777 shares during the period. GSA Capital Partners LLP acquired a new position in Empire State Realty Trust in the third quarter worth $256,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Empire State Realty Trust during the third quarter valued at $1,194,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

Shares of ESRT opened at $10.83 on Wednesday. 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 current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.81 billion, a P/E ratio of 40.11 and a beta of 1.41. The stock’s 50-day moving average price is $10.93 and its two-hundred day moving average price is $10.33.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same quarter last year, the firm earned $0.25 EPS. On average, equities analysts predict that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

ESRT has been the topic of several recent analyst reports. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

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.