Resona Asset Management Co. Ltd. Buys 4,397 Shares of Empire State Realty Trust, Inc. $ESRT

Resona Asset Management Co. Ltd. increased its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 8.0% during the first quarter, HoldingsChannel.com reports. The fund owned 59,224 shares of the real estate investment trust’s stock after purchasing an additional 4,397 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Empire State Realty Trust were worth $464,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC bought a new position in shares of Empire State Realty Trust in the first quarter worth about $21,703,000. Centersquare Investment Management LLC increased its position in Empire State Realty Trust by 6,189.6% in the 1st quarter. Centersquare Investment Management LLC now owns 2,805,998 shares of the real estate investment trust’s stock worth $21,943,000 after buying an additional 2,761,385 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Empire State Realty Trust by 42.4% during the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock worth $95,306,000 after buying an additional 2,750,045 shares during the last quarter. Waterfront Capital Partners LLC acquired a new position in shares of Empire State Realty Trust during the fourth quarter worth approximately $11,048,000. Finally, Northern Trust Corp boosted its position in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock valued at $26,835,000 after acquiring an additional 771,017 shares during the period. 67.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ESRT shares. Wall Street Zen lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company decreased their price target on shares of Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating on the stock in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.43.

Empire State Realty Trust Stock Performance

ESRT opened at $7.44 on Monday. The stock has a market cap of $1.26 billion, a PE ratio of 31.00 and a beta of 1.70. Empire State Realty Trust, Inc. has a 1 year low of $6.56 and a 1 year high of $11.62. The stock’s 50 day simple moving average is $7.91 and its 200-day simple moving average is $7.96. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The company had revenue of $153.54 million during the quarter. Sell-side analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, September 15th. Empire State Realty Trust’s payout ratio is presently 58.33%.

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.