JPMorgan Chase & Co. Increases Stake in Empire State Realty Trust, Inc. $ESRT

JPMorgan Chase & Co. raised its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 58.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,301,395 shares of the real estate investment trust’s stock after purchasing an additional 846,505 shares during the quarter. JPMorgan Chase & Co. owned 1.35% of Empire State Realty Trust worth $17,629,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC raised its holdings in Empire State Realty Trust by 73.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 1,561,474 shares of the real estate investment trust’s stock valued at $11,961,000 after buying an additional 659,543 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Empire State Realty Trust during the 3rd quarter valued at $3,983,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Empire State Realty Trust by 131.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,118,081 shares of the real estate investment trust’s stock worth $8,564,000 after acquiring an additional 634,543 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Empire State Realty Trust by 59.6% in the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock valued at $29,214,000 after acquiring an additional 1,424,066 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Empire State Realty Trust by 596.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,036,250 shares of the real estate investment trust’s stock valued at $7,938,000 after acquiring an additional 887,375 shares during the period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

Shares of NYSE ESRT opened at $5.01 on Thursday. The company has a 50 day simple moving average of $6.03 and a two-hundred day simple moving average of $6.76. The company has a market capitalization of $857.06 million, a price-to-earnings ratio of 19.25 and a beta of 1.36. Empire State Realty Trust, Inc. has a fifty-two week low of $4.97 and a fifty-two week high of $8.76. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.67 and a current ratio of 1.67.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $199.22 million for the quarter. Empire State Realty Trust had a net margin of 6.06% and a return on equity of 2.59%. Empire State Realty Trust has set its FY 2026 guidance at 0.850-0.890 EPS. Analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, March 13th. Empire State Realty Trust’s payout ratio is presently 53.85%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESRT. Evercore set a $7.00 target price on shares of Empire State Realty Trust in a report on Wednesday, February 18th. Wells Fargo & Company reduced their price target on Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Weiss Ratings lowered Empire State Realty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 4th. Finally, Citigroup dropped their price objective on Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $6.77.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.