Victory Capital Management Inc. Buys 72,241 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Victory Capital Management Inc. raised its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 41.8% in the second quarter, Holdings Channel reports. The firm owned 244,910 shares of the real estate investment trust’s stock after acquiring an additional 72,241 shares during the quarter. Victory Capital Management Inc.’s holdings in Empire State Realty Trust were worth $2,297,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust in the fourth quarter valued at $123,000. Allspring Global Investments Holdings LLC bought a new position in shares of Empire State Realty Trust in the 1st quarter valued at about $143,000. Quest Partners LLC acquired a new position in shares of Empire State Realty Trust during the 4th quarter worth about $157,000. QRG Capital Management Inc. raised its holdings in shares of Empire State Realty Trust by 20.5% in the 4th quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 2,776 shares during the period. Finally, MQS Management LLC acquired a new stake in Empire State Realty Trust in the 1st quarter valued at about $172,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 2.5 %

Empire State Realty Trust stock opened at $10.87 on Wednesday. The company’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $9.79. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.79 billion, a P/E ratio of 35.37, a P/E/G ratio of 6.11 and a beta of 1.40. Empire State Realty Trust, Inc. has a twelve month low of $7.25 and a twelve month high of $11.20.

Empire State Realty Trust (NYSE:ESRT) last posted its 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 firm had revenue of $189.54 million during the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, analysts expect that Empire State Realty Trust, Inc. will post 0.94 EPS for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust’s payout ratio is 46.67%.

Analyst Ratings Changes

A number of brokerages have weighed in on ESRT. Wells Fargo & Company boosted their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Finally, BMO Capital Markets raised their price target on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, July 19th.

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.