abrdn plc Sells 2,251 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

abrdn plc cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRTGet Rating) by 7.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,478 shares of the real estate investment trust’s stock after selling 2,251 shares during the quarter. abrdn plc’s holdings in Empire State Realty Trust were worth $208,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESRT. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Empire State Realty Trust by 12.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,067 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 4,808 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Empire State Realty Trust by 123.8% during the first quarter. Verdence Capital Advisors LLC now owns 32,642 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 18,057 shares during the period. Modera Wealth Management LLC bought a new position in shares of Empire State Realty Trust during the first quarter valued at $1,673,000. Envestnet Asset Management Inc. lifted its holdings in shares of Empire State Realty Trust by 21.7% during the first quarter. Envestnet Asset Management Inc. now owns 51,412 shares of the real estate investment trust’s stock valued at $505,000 after acquiring an additional 9,167 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Empire State Realty Trust by 11.6% during the first quarter. New York State Common Retirement Fund now owns 103,303 shares of the real estate investment trust’s stock valued at $1,014,000 after acquiring an additional 10,734 shares during the period. 76.13% of the stock is owned by institutional investors.

Empire State Realty Trust Price Performance

Shares of ESRT stock opened at $7.61 on Friday. The stock has a 50-day moving average price of $6.99 and a 200 day moving average price of $7.46. The company has a quick ratio of 6.06, a current ratio of 7.52 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 63.42, a PEG ratio of 0.95 and a beta of 1.10. Empire State Realty Trust, Inc. has a 12 month low of $6.24 and a 12 month high of $10.64.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.035 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.84%. Empire State Realty Trust’s payout ratio is 116.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ESRT shares. TheStreet raised Empire State Realty Trust from a “d+” rating to a “c-” rating in a report on Monday, August 1st. StockNews.com started coverage on Empire State Realty Trust in a report on Wednesday, October 12th. They issued a “hold” rating for the company. BMO Capital Markets raised Empire State Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $7.50 to $8.00 in a report on Thursday, July 14th. Wells Fargo & Company cut their price target on Empire State Realty Trust from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, October 18th. Finally, Wolfe Research cut Empire State Realty Trust from an “outperform” rating to a “peer perform” rating in a report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.75.

Empire State Realty Trust Profile

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Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.

See Also

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

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