Principal Financial Group Inc. Buys 3,141 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Principal Financial Group Inc. raised its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,013 shares of the real estate investment trust’s stock after purchasing an additional 3,141 shares during the quarter. Principal Financial Group Inc. owned 0.06% of Empire State Realty Trust worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Signaturefd LLC raised its position in shares of Empire State Realty Trust by 81.6% during the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares during the last quarter. Ballentine Partners LLC bought a new stake in Empire State Realty Trust during the third quarter worth about $129,000. Mercer Global Advisors Inc. ADV bought a new stake in Empire State Realty Trust during the second quarter worth about $137,000. Finally, Creative Planning boosted its holdings in shares of Empire State Realty Trust by 20.5% in the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 2,145 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised 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. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Finally, Wells Fargo & Company lifted their target price 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.

Empire State Realty Trust Price Performance

ESRT opened at $11.08 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock’s 50 day simple moving average is $10.93 and its 200 day simple moving average is $10.25. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 41.04 and a beta of 1.40. Empire State Realty Trust, Inc. has a 1 year low of $8.39 and a 1 year high of $11.62.

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

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.