Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 442,676 shares of the real estate investment trust's stock after selling 142,830 shares during the period. Bank of America Corp DE owned about 0.27% of Empire State Realty Trust worth $4,568,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in Empire State Realty Trust by 11.4% in the 4th quarter. BNP Paribas Financial Markets now owns 31,627 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 3,236 shares during the period. Algert Global LLC boosted its position in shares of Empire State Realty Trust by 21.8% during the fourth quarter. Algert Global LLC now owns 70,701 shares of the real estate investment trust's stock valued at $730,000 after purchasing an additional 12,654 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock worth $95,306,000 after acquiring an additional 2,750,045 shares in the last quarter. AXA S.A. boosted its holdings in Empire State Realty Trust by 47.1% in the fourth quarter. AXA S.A. now owns 772,598 shares of the real estate investment trust's stock worth $7,973,000 after acquiring an additional 247,296 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Empire State Realty Trust by 755.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 123,760 shares of the real estate investment trust's stock worth $1,277,000 after purchasing an additional 109,290 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Trading Up 1.0%

Shares of ESRT stock traded up $0.08 on Monday, reaching $7.74. 1,616,002 shares of the company's stock were exchanged, compared to its average volume of 1,252,181. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company's fifty day simple moving average is $7.38 and its 200 day simple moving average is $8.87. The stock has a market capitalization of $1.30 billion, a PE ratio of 27.63 and a beta of 1.60. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share for the quarter. The business had revenue of $154.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. As a group, analysts forecast that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, June 13th. Empire State Realty Trust's payout ratio is 46.67%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen cut Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a report on Friday, April 11th. Wolfe Research upgraded 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. Finally, Wells Fargo & Company dropped their target price on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Empire State Realty Trust currently has a consensus rating of "Hold" and an average price target of $10.43.

Insider Buying and Selling

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 11,843 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $8.02, for a total transaction of $94,980.86. Following the sale, the executive vice president now owns 44,185 shares in the company, valued at approximately $354,363.70. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 30,122 shares of company stock worth $242,761 in the last ninety days. 14.60% of the stock is owned by insiders.

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.