Fmr LLC boosted its position in Empire State Realty Trust Inc (NYSE:ESRT) by 56.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,512,906 shares of the real estate investment trust’s stock after purchasing an additional 911,543 shares during the quarter. Fmr LLC owned about 1.50% of Empire State Realty Trust worth $42,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Empire State Realty Trust in the 2nd quarter valued at $137,000. Eqis Capital Management Inc. acquired a new position in Empire State Realty Trust in the 2nd quarter valued at $172,000. Brown Advisory Inc. acquired a new position in Empire State Realty Trust in the 1st quarter valued at $177,000. State Board of Administration of Florida Retirement System acquired a new position in Empire State Realty Trust in the 2nd quarter valued at $184,000. Finally, Cornerstone Wealth Management LLC acquired a new position in Empire State Realty Trust in the 2nd quarter valued at $200,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Shares of ESRT opened at $16.29 on Thursday. Empire State Realty Trust Inc has a 52-week low of $15.94 and a 52-week high of $21.09. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 4.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 7.10 and a quick ratio of 7.10.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Empire State Realty Trust had a return on equity of 4.62% and a net margin of 12.72%. The business had revenue of $124.04 million during the quarter, compared to the consensus estimate of $122.58 million. During the same period last year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts forecast that Empire State Realty Trust Inc will post 0.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, September 13th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 43.75%.

A number of brokerages have issued reports on ESRT. BTIG Research downgraded Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, July 31st. Zacks Investment Research raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Bank of America downgraded Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Tuesday, August 7th. Finally, Evercore ISI downgraded Empire State Realty Trust from an “outperform” rating to an “inline” rating in a research note on Monday, June 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Empire State Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $20.86.

In related news, CFO David A. Karp bought 4,500 shares of the business’s stock in a transaction on Monday, July 30th. The stock was acquired at an average cost of $16.19 per share, with a total value of $72,855.00. Following the purchase, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at $89,045. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 11.50% of the stock is owned by company insiders.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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