Massachusetts Financial Services Co. MA Cuts Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Massachusetts Financial Services Co. MA cut its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 38.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,204,047 shares of the real estate investment trust's stock after selling 2,589,243 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.55% of Empire State Realty Trust worth $39,434,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Scotia Capital Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter worth about $123,000. Allspring Global Investments Holdings LLC bought a new position in shares of Empire State Realty Trust in the first quarter worth about $143,000. Quest Partners LLC purchased a new stake in Empire State Realty Trust in the 4th quarter valued at about $157,000. Inspire Advisors LLC bought a new stake in shares of Empire State Realty Trust in the 2nd quarter valued at about $171,000. Finally, MQS Management LLC purchased a new position in shares of Empire State Realty Trust in the 1st quarter worth approximately $172,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESRT. Wells Fargo & Company lifted their price target on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Wednesday, September 11th. BMO Capital Markets boosted their target price on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, July 19th. Finally, StockNews.com lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Friday, July 26th.

Empire State Realty Trust Trading Down 1.6 %

NYSE:ESRT traded down $0.18 during trading hours on Friday, hitting $11.09. The company had a trading volume of 1,267,147 shares, compared to its average volume of 1,119,802. Empire State Realty Trust, Inc. has a 1 year low of $7.25 and a 1 year high of $11.36. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average of $10.50 and a 200 day moving average of $9.81. The company has a market cap of $1.83 billion, a P/E ratio of 37.50, a P/E/G ratio of 6.11 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The firm had revenue of $189.54 million for the quarter. During the same period in the prior year, the firm posted $0.26 EPS. Sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, September 16th. Empire State Realty Trust's dividend payout ratio (DPR) is currently 46.67%.

About Empire State Realty Trust

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.