Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,553 shares of the real estate investment trust’s stock after selling 1,441 shares during the quarter. Cerity Partners LLC’s holdings in Empire State Realty Trust were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ESRT. GF Fund Management CO. LTD. acquired a new position in shares of Empire State Realty Trust in the 4th quarter worth approximately $26,000. Sterling Capital Management LLC raised its stake in Empire State Realty Trust by 819.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 3,828 shares in the last quarter. State of Wyoming bought a new stake in Empire State Realty Trust during the 4th quarter valued at $54,000. Pinney & Scofield Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth $103,000. Finally, XTX Topco Ltd bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth $110,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

ESRT opened at $7.43 on Friday. The company has a market cap of $1.25 billion, a PE ratio of 30.94 and a beta of 1.66. The stock has a 50-day moving average of $8.02 and a 200-day moving average of $8.21. Empire State Realty Trust, Inc. has a 52-week low of $6.56 and a 52-week high of $11.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.83 and a current ratio of 3.83.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a return on equity of 2.46% and a net margin of 5.67%. The business had revenue of $153.54 million during the quarter. As a group, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.035 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.14 annualized dividend and a yield of 1.89%. Empire State Realty Trust’s dividend payout ratio (DPR) is 58.33%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating on the stock in a research note on Monday, May 19th. Wall Street Zen downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, May 19th. Finally, Citigroup restated a “neutral” rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.43.

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.