Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 35.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,412 shares of the real estate investment trust’s stock after acquiring an additional 1,419 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Empire State Realty Trust were worth $59,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lighthouse Investment Partners LLC purchased a new position in shares of Empire State Realty Trust in the second quarter valued at approximately $7,926,000. Vanguard Group Inc. boosted its stake in shares of Empire State Realty Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock valued at $195,387,000 after purchasing an additional 175,718 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Empire State Realty Trust in the second quarter valued at approximately $4,573,000. Jupiter Asset Management Ltd. acquired a new stake in Empire State Realty Trust in the first quarter valued at approximately $2,896,000. Finally, ProShare Advisors LLC raised its holdings in Empire State Realty Trust by 8.5% in the first quarter. ProShare Advisors LLC now owns 23,747 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 1,868 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 1.4 %

ESRT stock opened at $10.84 on Wednesday. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.24. Empire State Realty Trust, Inc. has a twelve month low of $8.31 and a twelve month high of $11.62. The company’s 50 day moving average is $10.85 and its two-hundred day moving average is $10.13. The stock has a market cap of $1.80 billion, a P/E ratio of 40.13 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a return on equity of 2.74% and a net margin of 6.22%. The company had revenue of $199.60 million for the quarter. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Research analysts expect that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ESRT. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets raised their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company raised their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th.

Empire State Realty Trust Company 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.