Wescott Financial Advisory Group LLC Invests $1.80 Million in Empire State Realty Trust, Inc. (NYSE:ESRT)

Wescott Financial Advisory Group LLC acquired a new position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 152,003 shares of the real estate investment trust’s stock, valued at approximately $1,803,000. Empire State Realty Trust makes up about 1.1% of Wescott Financial Advisory Group LLC’s portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of ESRT. Berman Capital Advisors LLC raised its holdings in Empire State Realty Trust by 44.9% during the 1st quarter. Berman Capital Advisors LLC now owns 3,309 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 1,025 shares during the period. Janney Montgomery Scott LLC raised its holdings in Empire State Realty Trust by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 60,327 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 1,202 shares during the period. Rhumbline Advisers raised its holdings in Empire State Realty Trust by 0.9% during the 1st quarter. Rhumbline Advisers now owns 174,214 shares of the real estate investment trust’s stock valued at $1,939,000 after buying an additional 1,575 shares during the period. US Bancorp DE raised its holdings in Empire State Realty Trust by 23.9% during the 1st quarter. US Bancorp DE now owns 8,789 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 1,693 shares during the period. Finally, Swiss National Bank raised its holdings in Empire State Realty Trust by 0.5% during the 1st quarter. Swiss National Bank now owns 332,000 shares of the real estate investment trust’s stock valued at $3,695,000 after buying an additional 1,800 shares during the period. 80.68% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the company. BMO Capital Markets lowered Empire State Realty Trust from an “outperform” rating to a “market perform” rating and set a $13.50 price target on the stock. in a report on Monday, July 12th. They noted that the move was a valuation call. Zacks Investment Research lowered Empire State Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 27th. Finally, Wolfe Research initiated coverage on Empire State Realty Trust in a research note on Tuesday, June 15th. They issued an “outperform” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Empire State Realty Trust currently has an average rating of “Hold” and a consensus target price of $13.30.

Shares of ESRT traded up $0.12 during midday trading on Wednesday, reaching $10.07. 75,857 shares of the stock were exchanged, compared to its average volume of 1,668,463. Empire State Realty Trust, Inc. has a 52 week low of $5.19 and a 52 week high of $13.11. The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average is $10.90 and its two-hundred day moving average is $11.41. The company has a market capitalization of $1.75 billion, a P/E ratio of -165.81, a PEG ratio of 2.45 and a beta of 1.15.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Empire State Realty Trust had a negative return on equity of 0.27% and a negative net margin of 0.80%. On average, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.62 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, September 14th. Empire State Realty Trust’s payout ratio is currently 22.58%.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets.

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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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