Wolverine Asset Management LLC Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Wolverine Asset Management LLC increased its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 143.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,689 shares of the real estate investment trust’s stock after acquiring an additional 154,920 shares during the period. Wolverine Asset Management LLC owned about 0.16% of Empire State Realty Trust worth $2,711,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ESRT. Vision Capital Corp grew its position in Empire State Realty Trust by 79.9% in the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock worth $31,057,000 after purchasing an additional 1,245,211 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Empire State Realty Trust by 392.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock worth $12,180,000 after purchasing an additional 875,836 shares during the period. Barclays PLC grew its position in Empire State Realty Trust by 133.2% in the 3rd quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after purchasing an additional 173,965 shares during the period. Charles Schwab Investment Management Inc. grew 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 worth $41,648,000 after purchasing an additional 171,056 shares during the period. Finally, Jane Street Group LLC grew its position in Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock worth $2,533,000 after purchasing an additional 111,589 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Trading Down 0.9 %

Shares of ESRT stock opened at $8.68 on Friday. Empire State Realty Trust, Inc. has a 1 year low of $8.60 and a 1 year high of $11.62. The firm has a fifty day moving average price of $9.72 and a 200-day moving average price of $10.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 30.98 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million.

Empire State Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, December 16th. Empire State Realty Trust’s payout ratio is 50.00%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on ESRT. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. BMO Capital Markets lifted their target price on shares of 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 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.