Hsbc Holdings PLC Boosts Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Hsbc Holdings PLC lifted its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 138,984 shares of the real estate investment trust’s stock after acquiring an additional 11,881 shares during the quarter. Hsbc Holdings PLC’s holdings in Empire State Realty Trust were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ESRT. Vanguard Group Inc. increased its stake in Empire State Realty Trust by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock worth $204,800,000 after acquiring an additional 461,421 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Empire State Realty Trust by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock valued at $38,394,000 after buying an additional 90,758 shares during the period. Geode Capital Management LLC lifted its position in Empire State Realty Trust by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock valued at $35,302,000 after buying an additional 13,045 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Empire State Realty Trust by 5.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,709,524 shares of the real estate investment trust’s stock worth $17,642,000 after buying an additional 93,539 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Empire State Realty Trust by 16.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,596,894 shares of the real estate investment trust’s stock valued at $16,480,000 after acquiring an additional 227,953 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 2.6 %

Empire State Realty Trust stock opened at $7.39 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 26.39 and a beta of 1.60. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.62. The stock’s fifty day simple moving average is $7.71 and its 200-day simple moving average is $9.38.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The company had revenue of $154.54 million for the quarter. As a group, equities analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 46.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ESRT. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Tuesday, March 25th. Citigroup restated a “neutral” rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Finally, StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 5,779 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the completion of the transaction, the executive vice president now directly owns 56,028 shares of the company’s stock, valued at approximately $449,904.84. This represents a 9.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 30,122 shares of company stock valued at $242,761. Insiders own 14.60% of the company’s stock.

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.