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

Wellington Management Group LLP reduced its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,918,822 shares of the real estate investment trust's stock after selling 69,025 shares during the quarter. 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 have also added to or reduced their stakes in the company. Vestcor Inc increased its position in Empire State Realty Trust by 308.6% during the 3rd quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust's stock valued at $1,388,000 after purchasing an additional 94,582 shares during the period. JPMorgan Chase & Co. grew its position in shares of Empire State Realty Trust by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock worth $17,905,000 after buying an additional 98,850 shares during the period. Wolverine Asset Management LLC grew its position in shares of Empire State Realty Trust by 143.8% in the 4th quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust's stock worth $2,711,000 after buying an additional 154,920 shares during the period. Jane Street Group LLC grew its position in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust's stock worth $2,533,000 after buying an additional 111,589 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Empire State Realty Trust by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock worth $38,394,000 after purchasing an additional 90,758 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ESRT. 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. StockNews.com upgraded Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd.

Insider Buying and Selling

In related news, EVP Thomas P. Durels sold 12,500 shares of the firm's 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 30,122 shares of company stock valued at $242,761. Corporate insiders own 13.95% of the company's stock.

Empire State Realty Trust Stock Performance

NYSE:ESRT traded down $0.46 during trading hours on Thursday, reaching $6.78. The company had a trading volume of 260,183 shares, compared to its average volume of 1,186,935. Empire State Realty Trust, Inc. has a 1-year low of $6.56 and a 1-year high of $11.62. The firm has a market cap of $1.14 billion, a PE ratio of 24.16 and a beta of 1.39. The business's 50 day moving average price is $8.42 and its 200-day moving average price is $9.82. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate of $0.05 by $0.19. The firm had revenue of $155.13 million during the quarter, compared to analysts' expectations of $192.62 million. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. Research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust's dividend payout ratio (DPR) is presently 50.00%.

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.