Credit Suisse AG decreased its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 54.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,277 shares of the real estate investment trust’s stock after selling 353,834 shares during the period. Credit Suisse AG owned 0.18% of Empire State Realty Trust worth $5,990,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Empire State Realty Trust by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,713 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 587 shares during the period. Adams Diversified Equity Fund Inc. raised its position in Empire State Realty Trust by 3.0% in the first quarter. Adams Diversified Equity Fund Inc. now owns 55,800 shares of the real estate investment trust’s stock valued at $1,152,000 after buying an additional 1,600 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Empire State Realty Trust by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 1,122,044 shares of the real estate investment trust’s stock valued at $23,159,000 after buying an additional 34,126 shares during the period. First Mercantile Trust Co. increased its stake in Empire State Realty Trust by 42.7% in the first quarter. First Mercantile Trust Co. now owns 10,830 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 3,240 shares during the period. Finally, Nationwide Fund Advisors increased its stake in Empire State Realty Trust by 26.0% in the first quarter. Nationwide Fund Advisors now owns 84,555 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 17,444 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.
Shares of Empire State Realty Trust, Inc. (NYSE ESRT) traded down 0.53% during trading on Tuesday, hitting $20.52. 441,316 shares of the stock were exchanged. The company has a market cap of $3.26 billion, a P/E ratio of 52.35 and a beta of 1.01. Empire State Realty Trust, Inc. has a 1-year low of $18.62 and a 1-year high of $22.31. The firm’s 50-day moving average is $20.57 and its 200 day moving average is $20.86.
Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $120.80 million during the quarter, compared to the consensus estimate of $118.81 million. Empire State Realty Trust had a return on equity of 3.85% and a net margin of 11.67%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Equities analysts forecast that Empire State Realty Trust, Inc. will post $0.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, September 14th. Empire State Realty Trust’s dividend payout ratio is currently 107.70%.
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A number of equities research analysts recently weighed in on ESRT shares. TheStreet raised shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $21.00 target price on shares of Empire State Realty Trust in a research note on Thursday, June 22nd. BMO Capital Markets set a $23.00 price target on shares of Empire State Realty Trust and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, BidaskClub lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Empire State Realty Trust currently has an average rating of “Hold” and an average target price of $22.20.
About Empire State Realty Trust
Empire State Realty Trust, Inc is a real estate investment trust. The Company 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 Company operates through two segments: Real Estate and Observatory.
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