Empire State Realty Trust, Inc. (NYSE:ESRT) Stock Position Raised by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 38.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,265 shares of the real estate investment trust’s stock after purchasing an additional 3,987 shares during the period. Metis Global Partners LLC’s holdings in Empire State Realty Trust were worth $158,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Empire State Realty Trust by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after buying an additional 175,718 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Empire State Realty Trust by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust’s stock valued at $7,959,000 after acquiring an additional 37,370 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Empire State Realty Trust in the 2nd quarter valued at approximately $7,926,000. Foundry Partners LLC lifted its position in shares of Empire State Realty Trust by 5.3% in the 2nd quarter. Foundry Partners LLC now owns 689,651 shares of the real estate investment trust’s stock valued at $6,469,000 after acquiring an additional 34,720 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Empire State Realty Trust in the 2nd quarter worth approximately $4,573,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ESRT shares. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Wells Fargo & Company raised their price objective 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. Finally, BMO Capital Markets upped their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Price Performance

ESRT opened at $10.90 on Wednesday. The stock has a fifty day moving average price of $10.89 and a 200 day moving average price of $10.23. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 1 year low of $8.39 and a 1 year high of $11.62. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 40.37 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The firm had revenue of $199.60 million for the quarter. During the same period last year, the company posted $0.25 EPS. Analysts forecast that Empire State Realty Trust, Inc. will post 0.93 EPS for the current fiscal year.

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.