Algert Global LLC Acquires 17,160 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Algert Global LLC increased its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 42.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,047 shares of the real estate investment trust’s stock after buying an additional 17,160 shares during the period. Algert Global LLC’s holdings in Empire State Realty Trust were worth $643,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ESRT. Lighthouse Investment Partners LLC bought a new position in Empire State Realty Trust during the second quarter worth about $7,926,000. 1832 Asset Management L.P. bought a new position in shares of Empire State Realty Trust during the second quarter worth $4,573,000. Charles Schwab Investment Management Inc. increased its position in shares of Empire State Realty Trust by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after buying an additional 171,056 shares in the last quarter. Renaissance Technologies LLC raised its stake in Empire State Realty Trust by 142.5% during the 2nd quarter. Renaissance Technologies LLC now owns 255,400 shares of the real estate investment trust’s stock worth $2,396,000 after buying an additional 150,100 shares during the period. Finally, AXA S.A. raised its stake in Empire State Realty Trust by 353.2% during the 2nd quarter. AXA S.A. now owns 171,748 shares of the real estate investment trust’s stock worth $1,611,000 after buying an additional 133,848 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Performance

ESRT opened at $10.96 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 40.59 and a beta of 1.40. The business’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $10.30. Empire State Realty Trust, Inc. has a 1 year low of $8.78 and a 1 year high of $11.62.

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

Analyst Upgrades and Downgrades

ESRT has been the subject of several recent analyst reports. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Wells Fargo & Company increased their target price on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

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.