Ballentine Partners LLC Makes New $129,000 Investment in Empire State Realty Trust, Inc. (NYSE:ESRT)

Ballentine Partners LLC bought a new position in Empire State Realty Trust, Inc. (NYSE:ESRT) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 11,681 shares of the real estate investment trust’s stock, valued at approximately $129,000.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its position in Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Empire State Realty Trust during the 2nd quarter worth about $137,000. Creative Planning raised its holdings in Empire State Realty Trust by 20.5% in the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 2,145 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Empire State Realty Trust in the first quarter valued at about $143,000. Finally, Inspire Advisors LLC purchased a new position 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.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $10.79 on Thursday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.24. Empire State Realty Trust, Inc. has a 52-week low of $7.97 and a 52-week high of $11.62. The firm has a market cap of $1.78 billion, a PE ratio of 35.95 and a beta of 1.40. The company’s 50 day moving average is $10.81 and its two-hundred day moving average is $10.07.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $199.60 million for the quarter. Empire State Realty Trust had a return on equity of 2.74% and a net margin of 6.22%. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, research analysts expect that Empire State Realty Trust, Inc. will post 0.93 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s payout ratio is presently 46.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ESRT shares. Wells Fargo & Company upped their price objective 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. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets lifted their price objective on 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.

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.