State Street Corp Sells 83,122 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

State Street Corp decreased its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,077,113 shares of the real estate investment trust's stock after selling 83,122 shares during the quarter. State Street Corp owned about 3.65% of Empire State Realty Trust worth $67,334,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Empire State Realty Trust in the 3rd quarter worth about $25,000. Signaturefd LLC grew its position in Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 1,524 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Empire State Realty Trust by 3,139.1% during the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 4,332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Empire State Realty Trust by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 1,419 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Empire State Realty Trust during the third quarter valued at approximately $115,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Trading Down 6.9 %

Shares of NYSE:ESRT traded down $0.76 during trading hours on Wednesday, hitting $10.30. 1,296,089 shares of the company's stock traded hands, compared to its average volume of 1,122,084. 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 business has a fifty day moving average price of $10.96 and a 200-day moving average price of $10.47. Empire State Realty Trust, Inc. has a 1 year low of $8.78 and a 1 year high of $11.62. The firm has a market capitalization of $1.72 billion, a P/E ratio of 38.15 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The business had revenue of $199.60 million for the quarter. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, December 16th. Empire State Realty Trust's dividend payout ratio is presently 51.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ESRT shares. BMO Capital Markets boosted their target price on Empire State Realty Trust from $12.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Wednesday, September 11th. Finally, StockNews.com downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, November 2nd.

Empire State Realty Trust 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.