abrdn plc Raises Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

abrdn plc boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 36.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 39,604 shares of the real estate investment trust’s stock after buying an additional 10,608 shares during the period. abrdn plc’s holdings in Empire State Realty Trust were worth $400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc lifted its stake in Empire State Realty Trust by 308.6% in the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock worth $1,388,000 after acquiring an additional 94,582 shares during the period. JPMorgan Chase & Co. boosted its stake in Empire State Realty Trust by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Vision Capital Corp grew its stake in Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Empire State Realty Trust by 95.4% during the third quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock worth $2,533,000 after purchasing an additional 111,589 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Empire State Realty Trust during the third quarter worth about $256,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the transaction, the executive vice president now owns 86,807 shares of the company’s stock, valued at $876,750.70. This represents a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.95% of the company’s stock.

Empire State Realty Trust Trading Down 0.7 %

Shares of ESRT stock opened at $9.35 on Wednesday. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The firm has a market capitalization of $1.56 billion, a PE ratio of 34.63 and a beta of 1.40. The business’s fifty day moving average price is $10.05 and its 200 day moving average price is $10.49. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.035 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.50%. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Analysts Set New Price Targets

Several research firms recently issued reports on ESRT. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. BMO Capital Markets raised their target price 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.

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.