KLP Kapitalforvaltning AS Invests $310,000 in Empire State Realty Trust, Inc. (NYSE:ESRT)

KLP Kapitalforvaltning AS acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the real estate investment trust’s stock, valued at approximately $310,000.

A number of other hedge funds also recently added to or reduced their stakes in ESRT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Empire State Realty Trust in the third quarter valued at about $25,000. Versor Investments LP acquired a new stake in Empire State Realty Trust in the fourth quarter valued at about $105,000. Quadrature Capital Ltd purchased a new stake in Empire State Realty Trust in the 3rd quarter valued at approximately $115,000. Inspire Advisors LLC acquired a new position in Empire State Realty Trust during the 4th quarter worth approximately $125,000. Finally, Cibc World Markets Corp purchased a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $132,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Price Performance

ESRT stock opened at $7.23 on Friday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 25.80 and a beta of 1.39. 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 firm has a 50 day moving average of $8.66 and a 200-day moving average of $9.96. Empire State Realty Trust, Inc. has a 12-month low of $6.95 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. As a group, equities analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.035 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.94%. Empire State Realty Trust’s dividend payout ratio is presently 50.00%.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares in the company, valued at $449,904.84. This represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 30,122 shares of company stock valued at $242,761. Insiders own 14.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Tuesday, March 25th.

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.