Zurcher Kantonalbank Zurich Cantonalbank Has $621,000 Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,475 shares of the real estate investment trust’s stock after selling 6,122 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Empire State Realty Trust were worth $621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust’s stock valued at $95,306,000 after purchasing an additional 2,750,045 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Empire State Realty Trust by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock valued at $35,302,000 after buying an additional 13,045 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Empire State Realty Trust by 26.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust’s stock valued at $29,791,000 after buying an additional 601,077 shares during the period. Northern Trust Corp boosted its stake in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust’s stock valued at $26,835,000 after buying an additional 771,017 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Empire State Realty Trust by 53.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,118,085 shares of the real estate investment trust’s stock valued at $21,859,000 after buying an additional 741,234 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 3.5%

NYSE ESRT opened at $7.51 on Thursday. The business has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $8.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.83 and a quick ratio of 3.83. Empire State Realty Trust, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $11.62. The stock has a market capitalization of $1.26 billion, a PE ratio of 31.27 and a beta of 1.70.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a return on equity of 2.46% and a net margin of 5.67%. The firm had revenue of $153.54 million during the quarter. Equities analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.9%. Empire State Realty Trust’s payout ratio is presently 58.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup reiterated a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Wall Street Zen cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company cut their price target on Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating for the company in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.43.

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.