Principal Financial Group Inc. Has $1.09 Million Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Principal Financial Group Inc. raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 98,013 shares of the real estate investment trust’s stock after purchasing an additional 3,141 shares during the period. Principal Financial Group Inc.’s holdings in Empire State Realty Trust were worth $1,086,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Empire State Realty Trust by 2.9% during the second quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock worth $364,000 after buying an additional 1,083 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Empire State Realty Trust by 5.4% during the 2nd quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 1,221 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Empire State Realty Trust by 4.5% in the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 1,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Empire State Realty Trust by 0.4% in the second quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 1,428 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $10.26 on Friday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 38.00 and a beta of 1.41. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $10.54. 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 issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.36%. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 3,193 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.90, for a total transaction of $34,803.70. Following the completion of the sale, the executive vice president now owns 96,807 shares of the company’s stock, valued at $1,055,196.30. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.95% of the stock is owned by insiders.

Empire State Realty Trust Company 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.