Principal Financial Group Inc. Acquires 8,288 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Principal Financial Group Inc. increased its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,872 shares of the real estate investment trust’s stock after buying an additional 8,288 shares during the period. Principal Financial Group Inc.’s holdings in Empire State Realty Trust were worth $890,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Scotia Capital Inc. acquired a new stake in Empire State Realty Trust in the fourth quarter worth $123,000. Allspring Global Investments Holdings LLC acquired a new stake in Empire State Realty Trust during the 1st quarter worth $143,000. Quest Partners LLC bought a new position in Empire State Realty Trust during the fourth quarter worth about $157,000. QRG Capital Management Inc. grew its stake in Empire State Realty Trust by 20.5% in the fourth quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 2,776 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Empire State Realty Trust in the first quarter worth about $172,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $10.60 on Friday. Empire State Realty Trust, Inc. has a 12-month low of $7.25 and a 12-month high of $11.20. The firm’s 50 day moving average is $10.37 and its 200-day moving average is $9.78. The company has a market capitalization of $1.75 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 6.11 and a beta of 1.40. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts anticipate that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.32%. Empire State Realty Trust’s dividend payout ratio is 46.67%.

Wall Street Analysts Forecast Growth

ESRT has been the topic of several recent analyst reports. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th.

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.