By otakuyassine3@gmail.com 
State of Alaska Department of Revenue boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT – Free Report) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 65,276 shares of the real estate investment trust’s stock after buying an additional 1,722 shares during the period. State of Alaska Department of Revenue’s holdings in Empire State Realty Trust were worth $672,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ESRT. Point72 Asia Singapore Pte. Ltd. bought a new position in Empire State Realty Trust during the 3rd quarter worth $25,000. Signaturefd LLC boosted its stake in Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,524 shares in the last quarter. Loomis Sayles & Co. L P increased its position 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 purchasing an additional 4,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,419 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Empire State Realty Trust during the third quarter worth $115,000. Institutional investors and hedge funds own 67.10% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ESRT. BMO Capital Markets boosted their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.
Check Out Our Latest Stock Analysis on ESRT
Insider Activity at Empire State Realty Trust
In related news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This represents a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.95% of the stock is currently owned by corporate insiders.
Empire State Realty Trust Price Performance
Empire State Realty Trust stock opened at $9.11 on Friday. The company’s 50 day moving average price is $9.95 and its two-hundred day moving average price is $10.47. The stock has a market cap of $1.52 billion, a P/E ratio of 33.73 and a beta of 1.40. Empire State Realty Trust, Inc. has a 52 week low of $8.78 and a 52 week high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23.
Empire State Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.54%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 51.85%.
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.
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