MQS Management LLC Grows Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

MQS Management LLC increased its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 71.9% in the second quarter, HoldingsChannel.com reports. The firm owned 29,181 shares of the real estate investment trust’s stock after buying an additional 12,204 shares during the period. MQS Management LLC’s holdings in Empire State Realty Trust were worth $274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scotia Capital Inc. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at $123,000. Mercer Global Advisors Inc. ADV purchased a new position in Empire State Realty Trust during the 2nd quarter valued at about $137,000. Allspring Global Investments Holdings LLC acquired a new position in Empire State Realty Trust in the 1st quarter valued at about $143,000. Quest Partners LLC acquired a new position in Empire State Realty Trust in the 4th quarter valued at about $157,000. Finally, Inspire Advisors LLC purchased a new stake in Empire State Realty Trust during the second quarter worth about $171,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ESRT shares. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th.

Empire State Realty Trust Price Performance

Shares of ESRT opened at $11.01 on Friday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 6.11 and a beta of 1.40. The firm’s fifty day simple moving average is $10.51 and its 200-day simple moving average is $9.82. Empire State Realty Trust, Inc. has a twelve month low of $7.25 and a twelve month high of $11.36. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23.

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 for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts forecast that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is 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.