Renaissance Technologies LLC Has $5.53 Million Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Renaissance Technologies LLC trimmed its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,700 shares of the real estate investment trust’s stock after selling 19,100 shares during the period. Renaissance Technologies LLC owned 0.32% of Empire State Realty Trust worth $5,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP acquired a new position in Empire State Realty Trust in the 4th quarter valued at $105,000. Inspire Advisors LLC bought a new position in shares of Empire State Realty Trust in the fourth quarter worth $125,000. Cibc World Markets Corp acquired a new position in Empire State Realty Trust in the fourth quarter valued at about $132,000. Longboard Asset Management LP bought a new stake in Empire State Realty Trust during the fourth quarter worth about $137,000. Finally, Ballentine Partners LLC grew its stake in Empire State Realty Trust by 22.8% during the fourth quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,668 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Thomas P. Durels sold 5,779 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now directly owns 56,028 shares in the company, valued at $449,904.84. This represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 30,122 shares of company stock valued at $242,761 over the last quarter. 14.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ESRT shares. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, Citigroup reiterated a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Empire State Realty Trust has a consensus rating of “Hold” and an average target price of $11.00.

Empire State Realty Trust Price Performance

ESRT stock opened at $7.12 on Monday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 25.41 and a beta of 1.39. 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 company has a 50 day simple moving average of $8.07 and a 200 day simple moving average of $9.62. Empire State Realty Trust, Inc. has a 1 year low of $6.56 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. The company had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 50.00%.

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.