JPMorgan Chase & Co. Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

JPMorgan Chase & Co. grew its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,615,985 shares of the real estate investment trust’s stock after buying an additional 98,850 shares during the period. JPMorgan Chase & Co. owned 0.97% of Empire State Realty Trust worth $17,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Empire State Realty Trust by 3.3% in the third quarter. Principal Financial Group Inc. now owns 98,013 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 3,141 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth approximately $257,000. Geode Capital Management LLC grew its stake in shares of Empire State Realty Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock worth $37,756,000 after buying an additional 38,529 shares during the last quarter. Vestcor Inc grew its stake in shares of Empire State Realty Trust by 308.6% in the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock worth $1,388,000 after acquiring an additional 94,582 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Empire State Realty Trust by 133.2% during the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock valued at $3,374,000 after acquiring an additional 173,965 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total value of $101,000.00. Following the transaction, the executive vice president now owns 86,807 shares in the company, valued at $876,750.70. This represents a 10.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd.

Empire State Realty Trust Stock Down 1.6 %

ESRT stock opened at $9.76 on Friday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 36.15 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62. The business has a fifty day moving average price of $10.67 and a 200-day moving average price of $10.55.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results 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 business had revenue of $199.60 million during the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same period last year, the business posted $0.25 earnings per share. Equities analysts forecast that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 annualized dividend and a dividend yield of 1.43%. Empire State Realty Trust’s payout ratio is 51.85%.

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.