Victory Capital Management Inc. cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,161 shares of the real estate investment trust's stock after selling 105,526 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Empire State Realty Trust worth $1,622,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc raised its holdings in Empire State Realty Trust by 308.6% during the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust's stock worth $1,388,000 after buying an additional 94,582 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Empire State Realty Trust by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock valued at $17,905,000 after purchasing an additional 98,850 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Empire State Realty Trust by 143.8% in the fourth quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust's stock valued at $2,711,000 after purchasing an additional 154,920 shares during the last quarter. Vision Capital Corp raised its holdings in shares of Empire State Realty Trust by 79.9% in the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust's stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Empire State Realty Trust by 95.4% in the third quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust's stock valued at $2,533,000 after purchasing an additional 111,589 shares during the last quarter. 67.10% of the stock is owned by institutional investors.
Empire State Realty Trust Stock Performance
ESRT traded down $0.25 during trading on Friday, hitting $7.96. 2,066,114 shares of the company traded hands, compared to its average volume of 1,114,291. The firm has a market cap of $1.33 billion, a P/E ratio of 28.41 and a beta of 1.39. The stock's fifty day moving average is $9.03 and its 200 day moving average is $10.15. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a one year low of $7.88 and a one year high of $11.62.
Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.19. The company had revenue of $155.13 million during the quarter, compared to analyst estimates of $192.62 million. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. As a group, equities analysts predict that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.
Empire State Realty Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.76%. Empire State Realty Trust's dividend payout ratio is presently 50.00%.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Wednesday.
Check Out Our Latest Stock Report on Empire State Realty Trust
Insiders Place Their Bets
In other Empire State Realty Trust news, EVP Thomas P. Durels sold 12,500 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total transaction of $101,375.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.95% of the company's stock.
Empire State Realty Trust Company Profile
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Free Report)
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.
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