Russell Investments Group Ltd. Increases Stock Holdings in Empire State Realty Trust, Inc. $ESRT

Russell Investments Group Ltd. lifted its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 158.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 240,161 shares of the real estate investment trust’s stock after buying an additional 147,180 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Empire State Realty Trust worth $1,943,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in Empire State Realty Trust by 13.9% during the first quarter. Cetera Investment Advisers now owns 20,868 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 2,552 shares during the last quarter. US Bancorp DE grew its position in shares of Empire State Realty Trust by 22.4% in the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 1,824 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Empire State Realty Trust during the 1st quarter worth approximately $193,000. Nuveen LLC acquired a new position in shares of Empire State Realty Trust during the 1st quarter worth approximately $21,703,000. Finally, Resona Asset Management Co. Ltd. lifted its stake in Empire State Realty Trust by 8.0% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 59,224 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 4,397 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ESRT. Wall Street Zen raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Wells Fargo & Company decreased their price objective on Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating on the stock in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Empire State Realty Trust in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.40.

Empire State Realty Trust Stock Up 0.1%

Shares of NYSE:ESRT opened at $6.85 on Wednesday. Empire State Realty Trust, Inc. has a 1 year low of $6.55 and a 1 year high of $11.43. The stock has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $7.61. The stock has a market capitalization of $1.17 billion, a P/E ratio of 32.60 and a beta of 1.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.33 and a current ratio of 4.33.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. Empire State Realty Trust’s payout ratio is currently 66.67%.

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.