Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 35.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,412 shares of the real estate investment trust’s stock after acquiring an additional 1,419 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Empire State Realty Trust were worth $59,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Ballentine Partners LLC acquired a new position in Empire State Realty Trust during the third quarter worth $129,000. Signaturefd LLC raised its position in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,524 shares during the period. Creative Planning raised its position in Empire State Realty Trust by 20.5% during the third quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 2,145 shares during the period. Perpetual Ltd acquired a new position in Empire State Realty Trust during the third quarter worth $432,000. Finally, Handelsbanken Fonder AB raised its position in Empire State Realty Trust by 43.7% during the third quarter. Handelsbanken Fonder AB now owns 62,118 shares of the real estate investment trust’s stock worth $688,000 after acquiring an additional 18,900 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Price Performance

Shares of NYSE ESRT opened at $10.84 on Wednesday. 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 $8.31 and a 52 week high of $11.62. The firm has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $10.13. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 40.13 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data 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 2.74%. The firm had revenue of $199.60 million during the quarter. During the same period in the prior year, the company earned $0.25 earnings per share. On average, equities analysts predict that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ESRT. 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 research report on Wednesday, September 11th. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, 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.

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.