Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,502,317 shares of the real estate investment trust’s stock after selling 61,449 shares during the quarter. Legal & General Group Plc owned 1.50% of Empire State Realty Trust worth $25,824,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ESRT. Vanguard Group Inc. lifted its stake in Empire State Realty Trust by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust’s stock valued at $204,800,000 after purchasing an additional 461,421 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Empire State Realty Trust by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust’s stock valued at $38,394,000 after acquiring an additional 90,758 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Empire State Realty Trust by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,419,970 shares of the real estate investment trust’s stock valued at $35,302,000 after acquiring an additional 13,045 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Empire State Realty Trust by 5.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,709,524 shares of the real estate investment trust’s stock worth $17,642,000 after acquiring an additional 93,539 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Empire State Realty Trust by 16.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,596,894 shares of the real estate investment trust’s stock worth $16,480,000 after purchasing an additional 227,953 shares during the period. Institutional investors own 67.10% of the company’s stock.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 11,843 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.02, for a total transaction of $94,980.86. Following the transaction, the executive vice president now owns 44,185 shares of the company’s stock, valued at approximately $354,363.70. This trade represents a 21.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 30,122 shares of company stock worth $242,761 over the last 90 days. 13.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESRT. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research report on Tuesday, March 25th.

Empire State Realty Trust Trading Up 2.6 %

Shares of NYSE ESRT opened at $7.04 on Monday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year high of $11.62. The business has a 50-day moving average price of $8.32 and a two-hundred day moving average price of $9.76. The firm has a market capitalization of $1.18 billion, a PE ratio of 25.13 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million for the quarter, compared to the consensus estimate of $192.62 million. As a group, analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.99%. Empire State Realty Trust’s payout ratio is 50.00%.

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.