Benin Management CORP Increases Holdings in Empire State Realty Trust, Inc. $ESRT

Benin Management CORP raised its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,800 shares of the real estate investment trust’s stock after buying an additional 2,500 shares during the period. Benin Management CORP’s holdings in Empire State Realty Trust were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ESRT. Quantbot Technologies LP purchased a new stake in Empire State Realty Trust during the 1st quarter valued at $37,000. CWM LLC grew its position in shares of Empire State Realty Trust by 1,704.7% during the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 7,671 shares during the period. US Bancorp DE grew its position in shares of Empire State Realty Trust by 22.4% during the 1st quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 1,824 shares during the period. Wealthstream Advisors Inc. bought a new stake in shares of Empire State Realty Trust during the 2nd quarter valued at $94,000. Finally, Versor Investments LP grew its position in shares of Empire State Realty Trust by 23.5% during the 1st quarter. Versor Investments LP now owns 12,600 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 2,400 shares during the period. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ESRT. Weiss Ratings reissued a “hold (c)” rating on shares of Empire State Realty Trust in a research report on Tuesday, October 14th. Wall Street Zen raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.43.

Empire State Realty Trust Price Performance

NYSE:ESRT opened at $7.69 on Wednesday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15. The business’s 50-day simple moving average is $7.57 and its two-hundred day simple moving average is $7.63. The stock has a market cap of $1.30 billion, a PE ratio of 32.02 and a beta of 1.79. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.55.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 EPS for the quarter. The business had revenue of $153.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%. As a group, analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 58.33%.

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.