Advisors Asset Management Inc. Buys 37,043 Shares of Empire State Realty Trust Inc (ESRT)

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Advisors Asset Management Inc. raised its stake in Empire State Realty Trust Inc (NYSE:ESRT) by 264.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 51,045 shares of the real estate investment trust’s stock after buying an additional 37,043 shares during the quarter. Advisors Asset Management Inc.’s holdings in Empire State Realty Trust were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in shares of Empire State Realty Trust during the second quarter valued at $200,000. Nisa Investment Advisors LLC acquired a new position in shares of Empire State Realty Trust during the second quarter valued at $137,000. Eqis Capital Management Inc. acquired a new position in shares of Empire State Realty Trust during the second quarter valued at $172,000. Brown Advisory Inc. acquired a new position in shares of Empire State Realty Trust during the first quarter valued at $177,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Empire State Realty Trust during the second quarter valued at $184,000. Institutional investors own 73.41% of the company’s stock.

A number of brokerages have recently commented on ESRT. Zacks Investment Research lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BTIG Research lowered Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a report on Tuesday, July 31st. Finally, Bank of America lowered Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $20.86.

In other news, CFO David A. Karp bought 4,500 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were purchased at an average cost of $16.19 per share, with a total value of $72,855.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,500 shares in the company, valued at $89,045. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.50% of the stock is owned by insiders.

NYSE:ESRT opened at $15.73 on Friday. The stock has a market cap of $2.79 billion, a P/E ratio of 16.39, a PEG ratio of 4.69 and a beta of 0.92. Empire State Realty Trust Inc has a 52-week low of $15.61 and a 52-week high of $21.09. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.97.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $124.04 million for the quarter, compared to analyst estimates of $122.58 million. Empire State Realty Trust had a return on equity of 4.62% and a net margin of 12.72%. Empire State Realty Trust’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that Empire State Realty Trust Inc will post 0.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, September 13th. Empire State Realty Trust’s payout ratio is currently 43.75%.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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