Arizona State Retirement System Has $364,000 Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Arizona State Retirement System raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,808 shares of the real estate investment trust’s stock after buying an additional 1,083 shares during the period. Arizona State Retirement System’s holdings in Empire State Realty Trust were worth $364,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $123,000. Allspring Global Investments Holdings LLC acquired a new stake in Empire State Realty Trust during the 1st quarter valued at $143,000. Quest Partners LLC bought a new position in Empire State Realty Trust in the 4th quarter valued at $157,000. QRG Capital Management Inc. boosted its stake in Empire State Realty Trust by 20.5% in the fourth quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 2,776 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Empire State Realty Trust during the first quarter worth $172,000. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $10.87 on Wednesday. The business’s 50-day simple moving average is $10.42 and its 200 day simple moving average is $9.79. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 36.23, a P/E/G ratio of 6.11 and a beta of 1.40. Empire State Realty Trust, Inc. has a 12-month low of $7.25 and a 12-month high of $11.20.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business had revenue of $189.54 million during the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, research analysts anticipate that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 46.67%.

Wall Street Analysts Forecast Growth

A number of research analysts 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 report on Wednesday, September 11th. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets increased their price target on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th.

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.