Renaissance Technologies LLC Boosts Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Renaissance Technologies LLC boosted its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 142.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,400 shares of the real estate investment trust’s stock after buying an additional 150,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.15% of Empire State Realty Trust worth $2,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESRT. Norges Bank purchased a new stake in Empire State Realty Trust in the fourth quarter worth about $8,571,000. UBS Group AG increased its holdings in Empire State Realty Trust by 20.2% in the 4th quarter. UBS Group AG now owns 738,405 shares of the real estate investment trust’s stock worth $7,155,000 after acquiring an additional 124,272 shares in the last quarter. Scotia Capital Inc. bought a new stake in Empire State Realty Trust during the 4th quarter worth approximately $123,000. Pinebridge Investments L.P. lifted its holdings in Empire State Realty Trust by 82.8% during the fourth quarter. Pinebridge Investments L.P. now owns 106,085 shares of the real estate investment trust’s stock valued at $1,028,000 after purchasing an additional 48,050 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Empire State Realty Trust by 19.3% in the fourth quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock worth $56,409,000 after purchasing an additional 943,593 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESRT. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets increased their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th.

Empire State Realty Trust Stock Down 1.9 %

Shares of ESRT stock opened at $10.87 on Wednesday. The company’s fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $9.88. Empire State Realty Trust, Inc. has a 52 week low of $7.25 and a 52 week high of $11.43. The stock has a market cap of $1.79 billion, a P/E ratio of 36.23, a PEG ratio of 6.70 and a beta of 1.40. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The firm had revenue of $189.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the prior year, the company earned $0.26 EPS. Analysts predict that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s dividend payout ratio is presently 46.67%.

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.