Vert Asset Management LLC Acquires 2,400 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Vert Asset Management LLC boosted its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,749 shares of the real estate investment trust’s stock after buying an additional 2,400 shares during the period. Vert Asset Management LLC’s holdings in Empire State Realty Trust were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of Empire State Realty Trust by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after acquiring an additional 171,056 shares during the period. Geode Capital Management LLC raised its holdings in Empire State Realty Trust by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock worth $37,756,000 after purchasing an additional 38,529 shares during the period. Vision Capital Corp raised its holdings in Empire State Realty Trust by 79.9% in the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after purchasing an additional 1,245,211 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Empire State Realty Trust by 392.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after buying an additional 875,836 shares during the period. 67.10% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Thomas P. Durels sold 10,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. This trade represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ESRT shares. BMO Capital Markets raised their price objective on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

Empire State Realty Trust Stock Down 0.4 %

Shares of ESRT stock opened at $9.58 on Tuesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 35.46 and a beta of 1.41. Empire State Realty Trust, Inc. has a 12-month low of $8.78 and a 12-month high of $11.62. The firm has a fifty day moving average of $10.38 and a 200-day moving average of $10.59. 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s dividend payout ratio is 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.