Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 1.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,918,822 shares of the real estate investment trust’s stock after selling 69,025 shares during the quarter. Wellington Management Group LLP’s holdings in Empire State Realty Trust were worth $61,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Empire State Realty Trust by 392.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after purchasing an additional 875,836 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Empire State Realty Trust by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock valued at $204,800,000 after buying an additional 461,421 shares during the last quarter. Norges Bank purchased a new position in shares of Empire State Realty Trust in the fourth quarter worth about $4,725,000. Arrowstreet Capital Limited Partnership boosted its position in Empire State Realty Trust by 16.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,596,894 shares of the real estate investment trust’s stock worth $16,480,000 after acquiring an additional 227,953 shares during the last quarter. Finally, Barclays PLC grew its stake in Empire State Realty Trust by 133.2% during the 3rd quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock valued at $3,374,000 after acquiring an additional 173,965 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday. Wolfe Research raised Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Tuesday, March 25th.

Empire State Realty Trust Stock Performance

NYSE:ESRT opened at $7.23 on Friday. The company’s 50-day moving average is $8.66 and its two-hundred day moving average is $9.96. Empire State Realty Trust, Inc. has a 1-year low of $6.95 and a 1-year high of $11.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 25.80 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.19. The company had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.035 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.94%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 50.00%.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total value of $101,375.00. Following the sale, the executive vice president now directly owns 74,307 shares of the company’s stock, valued at approximately $602,629.77. The trade was a 14.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 30,122 shares of company stock valued at $242,761 over the last 90 days. 14.01% of the stock is owned by insiders.

About Empire State Realty Trust

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.