Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,597 shares of the real estate investment trust’s stock after purchasing an additional 20,504 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Empire State Realty Trust worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Empire State Realty Trust in the third quarter worth about $25,000. Loomis Sayles & Co. L P lifted its holdings in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 4,332 shares during the period. Versor Investments LP purchased a new stake in Empire State Realty Trust in the 4th quarter worth approximately $105,000. Quadrature Capital Ltd acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $115,000. Finally, Longboard Asset Management LP purchased a new position in shares of Empire State Realty Trust during the 4th quarter valued at approximately $137,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $8.20 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of 29.27 and a beta of 1.39. Empire State Realty Trust, Inc. has a 12-month low of $7.88 and a 12-month high of $11.62. The business’s 50 day moving average is $9.06 and its two-hundred day moving average is $10.17. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. The firm had revenue of $155.13 million for the quarter, compared to analysts’ expectations of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. Analysts expect that Empire State Realty Trust, Inc. will post 0.88 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, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.71%. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday.

Insider Buying and Selling

In other news, EVP Thomas P. Durels sold 10,000 shares of Empire State Realty Trust stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the sale, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. The trade was a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.95% of the company’s stock.

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.