Axa S.A. Buys 133,848 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Axa S.A. boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 353.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,748 shares of the real estate investment trust’s stock after acquiring an additional 133,848 shares during the period. Axa S.A.’s holdings in Empire State Realty Trust were worth $1,611,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. acquired a new stake in shares of Empire State Realty Trust during the 4th quarter worth $123,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Empire State Realty Trust during the 2nd quarter worth approximately $137,000. Allspring Global Investments Holdings LLC bought a new position in Empire State Realty Trust in the first quarter valued at approximately $143,000. Inspire Advisors LLC acquired a new position in Empire State Realty Trust during the second quarter valued at approximately $171,000. Finally, MQS Management LLC acquired a new position in Empire State Realty Trust during the first quarter valued at approximately $172,000. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $11.08 on Tuesday. The firm’s fifty day moving average price is $10.57 and its two-hundred day moving average price is $9.88. The stock has a market cap of $1.83 billion, a PE ratio of 36.93, a PEG ratio of 6.70 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. Empire State Realty Trust, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $11.43.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The firm 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 prior year, the company earned $0.26 EPS. On average, equities analysts expect that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.26%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 46.67%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ESRT shares. Wells Fargo & Company lifted their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. BMO Capital Markets lifted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th.

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.