Principal Financial Group Inc. Has $1.09 Million Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

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

Several other institutional investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Empire State Realty Trust in the 3rd quarter valued at $25,000. Signaturefd LLC increased its position in Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,524 shares during the period. Loomis Sayles & Co. L P raised its holdings in Empire State Realty Trust by 3,139.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 4,332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,419 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Empire State Realty Trust during the 3rd quarter valued at about $115,000. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT opened at $10.26 on Friday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 38.00 and a beta of 1.41. The firm’s 50 day simple moving average is $10.72 and its 200 day simple moving average is $10.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust, Inc. has a fifty-two week low of $8.78 and a fifty-two week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share 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 in the previous year, the business posted $0.25 EPS. As a group, sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.36%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 51.85%.

Insiders Place Their Bets

In related news, EVP Thomas P. Durels sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,807 shares in the company, valued at approximately $876,750.70. The trade was a 10.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.95% of the company’s stock.

Analyst Upgrades and Downgrades

ESRT has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Finally, Wells Fargo & Company lifted their price objective 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.

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.