Massachusetts Financial Services recently announced the acquisition of new stake in Empire State Realty Trust Inc. (NYSE:ESRT). The institutional investor has increased its shareholding in the Real Estate company by 2.11% to 10.45 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 6.52% valued currently at $76.2 million. In addition, BlackRock Fund Advisors raised its holdings by 0.12 million to 10.35 million shares. And Credit Suisse AG has lifted its position by 12.43% or 1.05 million shares – to 9.54 million shares.
With over 3.33 million Empire State Realty Trust Inc. (ESRT) shares trading Tuesday and a closing price of $6.59 on the day, the dollar volume was approximately $21.97 million. The shares have shown a negative half year performance of -12.02% and its price on 03/14/23 lost nearly -6.26%. Currently, there are 161.09M common shares owned by the public and among those 160.34M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Empire State Realty Trust Inc. are Longleaf Partners Small Cap Fund, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market Index. Longleaf Partners Small Cap Fund owns 8.26 million shares of the company’s stock, all valued at over $60.25 million. The company sold -1.43 million shares recently to bring their total holdings to about 5.15% of the shares outstanding. Vanguard Real Estate Index Fund sold 9659.0 shares to see its total holdings shrink to 6.16 million shares valued at over $44.93 million and representing 3.84% of the shares outstanding. Vanguard Total Stock Market Index bought 14156.0 shares to bring its total holdings to over 5.02 million shares at a value of $36.6 million. Vanguard Total Stock Market Index now owns shares totaling to 3.13% of the shares outstanding.
Shares of Empire State Realty Trust Inc. (NYSE: ESRT) opened at $7.24, up $0.21 from a prior closing price of $7.03. However, the script later moved the day high at 7.24, down -6.26%. The company’s stock has a 5-day price change of -15.84% and -2.95% over the past three months. ESRT shares are trading -2.23% year to date (YTD), with the 12-month market performance down to -28.60% lower. It has a 12-month low price of $6.24 and touched a high of $10.06 over the same period. ESRT has an average intraday trading volume of 1.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.41%, -13.20%, and -10.33% respectively.
Institutional ownership of Empire State Realty Trust Inc. (NYSE: ESRT) shares accounts for 98.00% of the company’s 161.09M shares outstanding. Mutual fund holders own 36.34%, while other institutional holders and individual stakeholders account for 46.98% and 18.86% respectively.
It has a market capitalization of $1.10B and a beta (3y monthly) value of 1.20. The stock’s trailing 12-month PE ratio is 29.42, while the earnings-per-share (ttm) stands at $0.22. The company has a PEG of 16.34 and the debt-to-equity ratio at 2.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.03% over the week and 4.22% over the month.
Analysts forecast that Empire State Realty Trust Inc. (ESRT) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.01 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 454.70%, and 0.00% over the next financial year. EPS should grow at an annualized rate of 1.80% over the next five years, compared to -11.00% over the past 5-year period.
Looking at the support for the ESRT, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on March 03, 2023, with the firm’s price target at $9. BofA Securities coverage for the Empire State Realty Trust Inc. (ESRT) stock in a research note released on March 01, 2023 offered a Buy rating with a price target of $9.25. Wolfe Research was of a view on August 01, 2022 that the stock is Peer Perform, while BMO Capital Markets gave the stock Market Perform rating on July 14, 2022, issuing a price target of $7.50- $8. Evercore ISI on their part issued Outperform rating on May 02, 2022.
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