JPMorgan Chase & Co. Buys 98,850 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

JPMorgan Chase & Co. raised its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,615,985 shares of the real estate investment trust’s stock after purchasing an additional 98,850 shares during the period. JPMorgan Chase & Co.’s holdings in Empire State Realty Trust were worth $17,905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Empire State Realty Trust during the 3rd quarter valued at approximately $25,000. Signaturefd LLC lifted its holdings in Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 4,332 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Empire State Realty Trust during the 3rd quarter valued at $115,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

ESRT stock opened at $9.76 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The company’s fifty day moving average price is $10.67 and its 200-day moving average price is $10.55. Empire State Realty Trust, Inc. has a one year low of $8.78 and a one year high of $11.62. The company has a market capitalization of $1.63 billion, a PE ratio of 36.15 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 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The company had revenue of $199.60 million for the quarter. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts anticipate that Empire State Realty Trust, Inc. will post 0.93 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust’s payout ratio is 51.85%.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 3,193 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.90, for a total transaction of $34,803.70. Following the sale, the executive vice president now directly owns 96,807 shares in the company, valued at approximately $1,055,196.30. This represents a 3.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ESRT shares. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. BMO Capital Markets increased their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

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.