Allspring Global Investments Holdings LLC Acquires 7,347 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Allspring Global Investments Holdings LLC grew its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 141.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,525 shares of the real estate investment trust’s stock after purchasing an additional 7,347 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Empire State Realty Trust were worth $94,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ESRT. Vanguard Group Inc. lifted its stake in Empire State Realty Trust by 0.7% in the first quarter. Vanguard Group Inc. now owns 23,240,809 shares of the real estate investment trust’s stock valued at $228,226,000 after purchasing an additional 154,374 shares during the last quarter. Credit Suisse AG grew its stake in shares of Empire State Realty Trust by 0.5% during the 1st quarter. Credit Suisse AG now owns 10,306,010 shares of the real estate investment trust’s stock worth $66,886,000 after acquiring an additional 49,444 shares during the period. State Street Corp increased its holdings in Empire State Realty Trust by 0.4% in the 2nd quarter. State Street Corp now owns 7,286,462 shares of the real estate investment trust’s stock worth $51,224,000 after acquiring an additional 30,240 shares during the last quarter. Equity Investment Corp increased its holdings in Empire State Realty Trust by 6.7% in the 1st quarter. Equity Investment Corp now owns 5,804,361 shares of the real estate investment trust’s stock worth $37,670,000 after acquiring an additional 366,025 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Empire State Realty Trust by 0.6% in the 1st quarter. William Blair Investment Management LLC now owns 4,052,572 shares of the real estate investment trust’s stock valued at $26,301,000 after acquiring an additional 25,846 shares during the period. 80.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESRT has been the subject of several recent research reports. TheStreet upgraded shares of Empire State Realty Trust from a “d+” rating to a “c” rating in a research note on Thursday, July 27th. StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Evercore ISI increased their target price on Empire State Realty Trust from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Wells Fargo & Company lifted their price target on Empire State Realty Trust from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Wednesday, August 30th. Finally, Citigroup increased their price objective on Empire State Realty Trust from $7.25 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.85.

Empire State Realty Trust Trading Down 0.8 %

Empire State Realty Trust stock opened at $8.87 on Thursday. The stock has a market cap of $1.43 billion, a P/E ratio of 26.88, a PEG ratio of 3.04 and a beta of 1.28. Empire State Realty Trust, Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $9.32. The firm’s fifty day moving average price is $8.19 and its 200-day moving average price is $7.66. The company has a debt-to-equity ratio of 1.29, a quick ratio of 8.56 and a current ratio of 8.56.

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.