EntryPoint Capital LLC Takes Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

EntryPoint Capital LLC bought a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 28,683 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in Empire State Realty Trust by 4.5% during the third quarter. BNP Paribas Financial Markets now owns 28,391 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 1,231 shares during the last quarter. State of Alaska Department of Revenue grew its position in Empire State Realty Trust by 2.7% during the 4th quarter. State of Alaska Department of Revenue now owns 65,276 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 1,722 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Empire State Realty Trust during the 3rd quarter worth approximately $25,000. Vert Asset Management LLC increased its holdings in Empire State Realty Trust by 4.5% during the 4th quarter. Vert Asset Management LLC now owns 55,749 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in Empire State Realty Trust by 22.8% in the 4th quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,668 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Stock Down 1.4 %

Shares of ESRT opened at $7.93 on Friday. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 28.34 and a beta of 1.39. Empire State Realty Trust, Inc. has a 52 week low of $7.88 and a 52 week high of $11.62. 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 business’s fifty day moving average price is $8.90 and its two-hundred day moving average price is $10.08.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. The business had revenue of $155.13 million for the quarter, compared to analysts’ expectations of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. On average, analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, March 14th. Empire State Realty Trust’s dividend payout ratio is 50.00%.

Insider Buying and Selling

In related news, EVP Thomas P. Durels sold 5,779 shares of Empire State Realty Trust stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the completion of the sale, the executive vice president now directly owns 56,028 shares of the company’s stock, valued at $449,904.84. The trade was a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 30,122 shares of company stock valued at $242,761 over the last ninety days. Insiders own 13.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research upgraded Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Tuesday. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th.

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.