Massachusetts Financial Services has recently announced that it has increased stake in Empire State Realty Trust Inc. (NYSE:ESRT) by 8.49%. After grabbing 11.34 million shares, the institutional investor is now in possession of 0.89 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 7.06% having worth around $69.29 million. Moreover, Credit Suisse AG increased its share by 0.5 million to have a control over 10.04 million shares. And Equity Investment Corp. raised its holdings to 0.37 million shares by acquiring 5.8 million shares or 3.61% of the stake.
Empire State Realty Trust Inc. (ESRT) concluded trading on 05/24/23 at a closing price of $6.10, with 1.25 million shares of worth about $7.62 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.56% during that period and on Wednesday the price saw a loss of about -6.58%. Currently the company’s common shares owned by public are about 161.34M shares, out of which, 157.81M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the ESRT stock and their offered price forecasts bring an average price target of $7.35. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $8.50 and could fall to a lowest price of $6.00. The stock’s current price level is 14.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -1.67% for the stock. However, touching the estimated high of $8.50 would mean a gain of 28.24% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Longleaf Partners Small Cap Fund, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Empire State Realty Trust Inc. Longleaf Partners Small Cap Fund is currently holding 8.26 million shares of worth totaling $50.49 million. The company recently came buying 0.0 shares which brought its stake up to 5.14% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 9076.0 shares, after which its hold over company’s outstanding shares shrunk to 3.73%, leaving 6.0 million shares with the mutual fund that have a worth of about $36.64 million. Vanguard Total Stock Market ETF, after buying 5.05 million shares, have now control over 3.14% of the stake in the company. It holds 3263.0 shares of worth $30.83 million.
Empire State Realty Trust Inc. (NYSE: ESRT) started trading at $6.45, below -$0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 6.48, or with a loss of -6.58%. Stock saw a price change of 6.83% in past 5 days and over the past one month there was a price change of 4.27%. Year-to-date (YTD), ESRT shares are showing a performance of -9.50% which decreased to -21.59% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.39 but also hit the highest price of $8.68 during that period. The average intraday trading volume for Empire State Realty Trust Inc. shares is 1.51 million. The stock is currently trading 5.49% above its 20-day simple moving average (SMA20), while that difference is up 0.51% for SMA50 and it goes to -12.81% lower than SMA200.
Massachusetts Financial Services acquired 11.34 million shares of Empire State Realty Trust Inc. having value of about $69.29 million. Data submitted at the U.S SEC by Massachusetts Financial Services revealed that the firm now holds 0.89 million shares in the company valued at close to $5412889.9, or have control over 8.49% stake in the company. Empire State Realty Trust Inc. (NYSE: ESRT) currently have 161.34M outstanding shares and institutions hold larger chunk of about 100.65% of that. Holding of mutual funds in the company is about 35.95% while other institutional holders and individual stake holders have control over 47.93% and 18.83% of the stake respectively.
The stock has a current market capitalization of $976.67M and its 3Y-monthly beta is at 1.20. PE ratio of stock for trailing 12 months is 19.37, while it has posted earnings per share of $0.32 in the same period. Its PEG reads 10.76 while making debt-to-equity ratio of 2.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ESRT, volatility over the week remained 6.04% while standing at 4.58% over the month.
Analysts are in expectations that Empire State Realty Trust Inc. (ESRT) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.09 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 454.70% while it is estimated to decrease by -33.33% in next year. EPS is likely to grow at an annualized rate of 1.80% for next 5-years, compared to annual growth of -11.00% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Empire State Realty Trust Inc. (ESRT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
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