Daiwa Securities Group Inc. Cuts Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Daiwa Securities Group Inc. cut its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,772 shares of the real estate investment trust’s stock after selling 1,610 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Empire State Realty Trust were worth $376,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Empire State Realty Trust in the third quarter valued at about $59,000. Spirit of America Management Corp NY purchased a new position in Empire State Realty Trust in the fourth quarter valued at about $87,000. New York State Teachers Retirement System purchased a new position in Empire State Realty Trust in the fourth quarter valued at about $115,000. QRG Capital Management Inc. acquired a new stake in shares of Empire State Realty Trust during the third quarter valued at about $109,000. Finally, Stokes Family Office LLC grew its stake in shares of Empire State Realty Trust by 27.5% during the third quarter. Stokes Family Office LLC now owns 17,158 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 3,696 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Stock Up 1.0 %

Shares of Empire State Realty Trust stock opened at $9.21 on Friday. The business has a 50-day moving average of $9.68 and a 200-day moving average of $9.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. The company has a market capitalization of $1.51 billion, a PE ratio of 30.70, a P/E/G ratio of 3.44 and a beta of 1.30. Empire State Realty Trust, Inc. has a 1-year low of $5.43 and a 1-year high of $10.32.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.52%. Empire State Realty Trust’s dividend payout ratio is presently 46.67%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.33.

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.