Daiwa Securities Group Inc. Buys 2,717 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Daiwa Securities Group Inc. lifted its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,950 shares of the real estate investment trust’s stock after purchasing an additional 2,717 shares during the period. Daiwa Securities Group Inc.’s holdings in Empire State Realty Trust were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ESRT. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 171,056 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Empire State Realty Trust by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust’s stock valued at $7,959,000 after acquiring an additional 37,370 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Empire State Realty Trust in the second quarter worth about $7,926,000. Foundry Partners LLC raised its holdings in Empire State Realty Trust by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 689,651 shares of the real estate investment trust’s stock worth $6,469,000 after purchasing an additional 34,720 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Empire State Realty Trust during the 2nd quarter valued at about $4,573,000. 67.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th. BMO Capital Markets upped their target price on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd.

Empire State Realty Trust Stock Down 1.1 %

Empire State Realty Trust stock opened at $10.96 on Friday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 40.59 and a beta of 1.40. The company’s 50 day simple moving average is $10.94 and its 200 day simple moving average is $10.31. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust, Inc. has a fifty-two week low of $8.78 and a fifty-two week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results 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 2.73% and a net margin of 6.22%. The firm had revenue of $199.60 million for the quarter. During the same quarter last year, the company posted $0.25 earnings per share. As a group, sell-side analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

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.