Federated Hermes Inc. Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Federated Hermes Inc. increased its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 343,637 shares of the real estate investment trust’s stock after purchasing an additional 1,428 shares during the quarter. Federated Hermes Inc. owned approximately 0.21% of Empire State Realty Trust worth $3,223,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $123,000. Allspring Global Investments Holdings LLC purchased a new position in Empire State Realty Trust in the first quarter worth $143,000. Quest Partners LLC bought a new position in Empire State Realty Trust in the 4th quarter valued at $157,000. MQS Management LLC purchased a new stake in shares of Empire State Realty Trust during the 1st quarter valued at $172,000. Finally, Capital Investment Counsel Inc bought a new stake in shares of Empire State Realty Trust during the 2nd quarter worth $186,000. 67.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

ESRT has been the subject of several research reports. 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. BMO Capital Markets increased their target price on shares of 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, Wells Fargo & Company lifted their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $11.27 on Friday. 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 company has a market cap of $1.86 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 6.11 and a beta of 1.40. Empire State Realty Trust, Inc. has a 52 week low of $7.25 and a 52 week high of $11.36. The firm’s 50-day simple moving average is $10.50 and its two-hundred day simple moving average is $9.81.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The business had revenue of $189.54 million for 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 prior year, the firm earned $0.26 EPS. Research analysts predict that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 46.67%.

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.