Geode Capital Management LLC Buys 79,525 Shares of Empire State Realty Trust, Inc. $ESRT

Geode Capital Management LLC raised its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,550,460 shares of the real estate investment trust’s stock after buying an additional 79,525 shares during the period. Geode Capital Management LLC owned 2.11% of Empire State Realty Trust worth $28,727,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. GSA Capital Partners LLP boosted its holdings in shares of Empire State Realty Trust by 173.6% during the 1st quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust’s stock valued at $847,000 after acquiring an additional 68,720 shares in the last quarter. Nordea Investment Management AB raised its position in Empire State Realty Trust by 38.2% in the second quarter. Nordea Investment Management AB now owns 1,135,511 shares of the real estate investment trust’s stock valued at $9,112,000 after purchasing an additional 314,113 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Empire State Realty Trust during the first quarter valued at about $610,000. Jump Financial LLC bought a new stake in shares of Empire State Realty Trust during the first quarter worth about $464,000. Finally, Wolverine Asset Management LLC increased its stake in shares of Empire State Realty Trust by 25.9% in the first quarter. Wolverine Asset Management LLC now owns 330,705 shares of the real estate investment trust’s stock valued at $2,586,000 after buying an additional 68,016 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Stock Up 0.4%

Empire State Realty Trust stock opened at $7.03 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 33.48 and a beta of 1.76. Empire State Realty Trust, Inc. has a 52-week low of $6.55 and a 52-week high of $11.43. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. The firm has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $7.65.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empire State Realty Trust in a research report on Monday. Wells Fargo & Company dropped their price target on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Wall Street Zen raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Empire State Realty Trust currently has an average rating of “Hold” and a consensus price target of $8.40.

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.