Lighthouse Investment Partners LLC Makes New $7.93 Million Investment in Empire State Realty Trust, Inc. (NYSE:ESRT)

Lighthouse Investment Partners LLC bought a new position in Empire State Realty Trust, Inc. (NYSE:ESRT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 845,000 shares of the real estate investment trust’s stock, valued at approximately $7,926,000.

Other hedge funds also recently bought and sold shares of the company. Scotia Capital Inc. acquired a new position in Empire State Realty Trust in the 4th quarter worth about $123,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Empire State Realty Trust during the 2nd quarter valued at about $137,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Empire State Realty Trust during the 1st quarter valued at about $143,000. Inspire Advisors LLC acquired a new position in shares of Empire State Realty Trust during the 2nd quarter valued at about $171,000. Finally, MQS Management LLC acquired a new position in shares of Empire State Realty Trust during the 1st quarter valued at about $172,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $10.97 on Friday. The business has a 50 day moving average price of $10.56 and a 200 day moving average price of $9.86. Empire State Realty Trust, Inc. has a twelve month low of $7.25 and a twelve month high of $11.43. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 6.70 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 announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. The business had revenue of $189.54 million for the quarter. During the same period last year, the firm posted $0.26 EPS. Research analysts predict that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.14 annualized dividend and a yield of 1.28%. Empire State Realty Trust’s payout ratio is 46.67%.

Analyst Upgrades and Downgrades

ESRT has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th. BMO Capital Markets increased their price objective 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. Finally, StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th.

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.