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

Wellington Management Group LLP lessened its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,918,822 shares of the real estate investment trust’s stock after selling 69,025 shares during the period. Wellington Management Group LLP owned approximately 3.55% of Empire State Realty Trust 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. Vanguard Group Inc. increased its position in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock valued at $204,800,000 after acquiring an additional 461,421 shares during the period. William Blair Investment Management LLC grew its stake in Empire State Realty Trust by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock valued at $38,394,000 after purchasing an additional 90,758 shares during the last quarter. Geode Capital Management LLC grew its stake in Empire State Realty Trust by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock valued at $37,756,000 after purchasing an additional 38,529 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Empire State Realty Trust by 5.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,709,524 shares of the real estate investment trust’s stock valued at $17,642,000 after purchasing an additional 93,539 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Empire State Realty Trust by 16.7% in 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 purchasing an additional 227,953 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Down 2.9 %

Shares of ESRT stock opened at $7.23 on Friday. Empire State Realty Trust, Inc. has a twelve month low of $6.95 and a twelve month high of $11.62. The stock has a market cap of $1.21 billion, a P/E ratio of 25.80 and a beta of 1.39. The stock has a 50 day moving average of $8.66 and a 200 day moving average of $9.96. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. As a group, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, March 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday. Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Tuesday, March 25th.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total transaction of $101,375.00. Following the transaction, the executive vice president now owns 74,307 shares in the company, valued at $602,629.77. This trade represents a 14.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 30,122 shares of company stock worth $242,761 in the last 90 days. Corporate insiders own 14.01% of the company’s stock.

Empire State Realty Trust Company 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.