Van ECK Associates Corp Acquires 6,262 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Van ECK Associates Corp boosted its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,715 shares of the real estate investment trust’s stock after buying an additional 6,262 shares during the quarter. Van ECK Associates Corp’s holdings in Empire State Realty Trust were worth $338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Empire State Realty Trust in the third quarter valued at $25,000. Signaturefd LLC grew its holdings in Empire State Realty Trust by 81.6% during the 3rd 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. Loomis Sayles & Co. L P grew its holdings in Empire State Realty Trust by 3,139.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 4,332 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,419 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Empire State Realty Trust during the 3rd quarter worth about $115,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Down 0.9 %

Shares of ESRT opened at $8.68 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of 30.98 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. The stock has a 50 day simple moving average of $9.72 and a two-hundred day simple moving average of $10.41. Empire State Realty Trust, Inc. has a 1 year low of $8.60 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during 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%. On average, analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

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 $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is currently 50.00%.

Analyst Ratings Changes

ESRT has been the subject of a number of recent analyst reports. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. BMO Capital Markets increased their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 3,193 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total transaction of $34,803.70. Following the transaction, the executive vice president now owns 96,807 shares of the company’s stock, valued at approximately $1,055,196.30. The trade was a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.95% of the company’s stock.

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.