Pinney & Scofield Inc. Invests $103,000 in Empire State Realty Trust, Inc. (NYSE:ESRT)

Pinney & Scofield Inc. purchased a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $103,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Empire State Realty Trust by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock worth $204,800,000 after purchasing an additional 461,421 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Empire State Realty Trust by 42.4% in the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after buying an additional 2,750,045 shares in the last quarter. William Blair Investment Management LLC grew its stake 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 in the last quarter. Geode Capital Management LLC grew its stake in Empire State Realty Trust by 0.4% in the 4th 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 in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Empire State Realty Trust by 26.3% in the 4th quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust’s stock valued at $29,791,000 after buying an additional 601,077 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of Empire State Realty Trust stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total transaction of $101,375.00. Following the completion of the sale, the executive vice president now directly owns 74,307 shares of the company’s stock, valued at approximately $602,629.77. The trade was a 14.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 30,122 shares of company stock valued at $242,761 in the last three months. Company insiders own 14.60% of the company’s stock.

Empire State Realty Trust Stock Up 0.2%

Shares of NYSE:ESRT opened at $7.29 on Friday. The firm has a fifty day moving average price of $7.43 and a two-hundred day moving average price of $9.02. 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 one year low of $6.56 and a one year high of $11.62. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 26.03 and a beta of 1.60.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $154.54 million during the quarter. Analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, June 13th. Empire State Realty Trust’s payout ratio is 46.67%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ESRT shares. Wells Fargo & Company reduced their price objective on shares of Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating for the company in a research note on Monday, May 19th. Wall Street Zen lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 19th. Citigroup reiterated a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, 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 for the company in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.43.

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.