Trading Report: The Empire State Realty Trust Inc. (ESRT) Position Boosted by Gerber Kawasaki Wealth & Investment Management

The Empire State Realty Trust Inc. (ESRT) Position Boosted by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management raised its position in Empire State Realty Trust Inc. (NYSE:ESRT) by 8.1% during the second quarter, Holdings Channel reports. The firm owned 16,750 shares of the real estate investment trust’s stock after buying an additional 1,250 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Empire State Realty Trust were worth $318,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Japan Co. Ltd increased its stake in Empire State Realty Trust by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,216 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 87 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Empire State Realty Trust by 0.4% in the first quarter. Meeder Asset Management Inc. now owns 9,607 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 36 shares during the period. IBM Retirement Fund increased its stake in shares of Empire State Realty Trust by 9.2% in the second quarter. IBM Retirement Fund now owns 12,255 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 1,030 shares during the period. BB&T Securities LLC increased its stake in shares of Empire State Realty Trust by 14.1% in the first quarter. BB&T Securities LLC now owns 14,151 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 1,744 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in shares of Empire State Realty Trust during the first quarter worth approximately $258,000. 77.28% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Inc. (NYSE:ESRT) traded down 0.10% during mid-day trading on Monday, hitting $20.24. The stock had a trading volume of 542,990 shares. Empire State Realty Trust Inc. has a 1-year low of $14.58 and a 1-year high of $22.31. The company has a 50-day moving average price of $20.92 and a 200 day moving average price of $19.69. The company has a market cap of $2.51 billion, a P/E ratio of 64.25 and a beta of 0.96.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.02. Empire State Realty Trust had a return on equity of 4.73% and a net margin of 10.33%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $116.59 million. During the same period in the prior year, the firm posted $0.26 EPS. Empire State Realty Trust’s revenue was up .6% on a year-over-year basis. Equities research analysts forecast that Empire State Realty Trust Inc. will post $0.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, September 15th. Empire State Realty Trust’s dividend payout ratio is presently 131.25%.

A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. TheStreet upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, BTIG Research assumed coverage on Empire State Realty Trust in a research report on Thursday, August 25th. They set a “buy” rating and a $24.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.60.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. The Company’s segments include Real Estate, Observatory and Other. The Real Estate segment includes the Company’s activities related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets.

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