MQS Management LLC Increases Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

MQS Management LLC boosted its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 71.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,181 shares of the real estate investment trust’s stock after purchasing an additional 12,204 shares during the quarter. MQS Management LLC’s holdings in Empire State Realty Trust were worth $274,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Scotia Capital Inc. purchased a new stake in shares of Empire State Realty Trust during the fourth quarter worth about $123,000. Allspring Global Investments Holdings LLC purchased a new stake in Empire State Realty Trust during the 1st quarter worth approximately $143,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Empire State Realty Trust during the second quarter valued at approximately $137,000. Quest Partners LLC purchased a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $157,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Empire State Realty Trust in the second quarter worth approximately $171,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESRT has been the topic of a number of research reports. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of 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. Finally, BMO Capital Markets increased their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, July 19th.

Empire State Realty Trust Stock Down 2.3 %

NYSE ESRT opened at $11.01 on Friday. The business’s fifty day simple moving average is $10.51 and its 200-day simple moving average is $9.82. 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 firm 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, Inc. has a 52 week low of $7.25 and a 52 week high of $11.36.

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

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.035 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.14 annualized dividend and a yield of 1.27%. Empire State Realty Trust’s payout ratio is 46.67%.

Empire State Realty Trust 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.