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

Wellington Management Group LLP trimmed its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,987,847 shares of the real estate investment trust's stock after selling 1,158,978 shares during the quarter. Wellington Management Group LLP owned 3.60% of Empire State Realty Trust worth $66,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Lighthouse Investment Partners LLC purchased a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $7,926,000. Vision Capital Corp raised its position in Empire State Realty Trust by 79.9% during the 3rd 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 in the last quarter. GSA Capital Partners LLP bought a new stake in Empire State Realty Trust during the 3rd quarter valued at $256,000. 1832 Asset Management L.P. purchased a new stake in shares of Empire State Realty Trust in the 2nd quarter worth $4,573,000. Finally, Victory Capital Management Inc. grew its position in shares of Empire State Realty Trust by 7.3% during the 3rd quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust's stock worth $2,911,000 after buying an additional 17,777 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Stock Down 1.0 %

Shares of NYSE ESRT traded down $0.11 during mid-day trading on Wednesday, reaching $11.10. 1,077,986 shares of the company were exchanged, compared to its average volume of 1,125,282. The firm has a 50-day moving average of $10.93 and a 200 day moving average of $10.40. Empire State Realty Trust, Inc. has a 1 year low of $8.78 and a 1 year high of $11.62. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 41.52 and a beta of 1.41.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). The firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same quarter in the prior year, the company earned $0.25 EPS. On average, research 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, December 16th. Empire State Realty Trust's payout ratio is presently 51.85%.

Wall Street Analysts Forecast Growth

ESRT has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, November 15th. 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.