Cbre Investment Management Listed Real Assets LLC Sells 790,784 Shares of Empire State Realty Trust, Inc. $ESRT

Key Points

• CBRE Investment Management reduced its stake in Empire State Realty Trust by 40.7%, selling 790,784 shares and now owning approximately 0.69% of the company.
• Empire State Realty Trust's stock price increased by 4.9%, and the stock currently holds a market capitalization of $1.30 billion with a 52-week price range of $6.56 to $11.62.
• The company recently announced a quarterly dividend of $0.035 per share, reflecting an annualized yield of 1.8% and a payout ratio of 58.33%.

Cbre Investment Management Listed Real Assets LLC reduced its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,152,474 shares of the real estate investment trust's stock after selling 790,784 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.69% of Empire State Realty Trust worth $9,012,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESRT. GF Fund Management CO. LTD. acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at about $26,000. Quantbot Technologies LP acquired a new stake in shares of Empire State Realty Trust in the first quarter valued at about $37,000. Sterling Capital Management LLC grew its position in Empire State Realty Trust by 819.7% during the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after buying an additional 3,828 shares in the last quarter. State of Wyoming acquired a new stake in Empire State Realty Trust during the fourth quarter worth about $54,000. Finally, US Bancorp DE grew its position in Empire State Realty Trust by 22.4% during the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after buying an additional 1,824 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Price Performance

NYSE ESRT traded down $0.09 during trading on Thursday, reaching $7.52. 353,373 shares of the company traded hands, compared to its average volume of 1,559,580. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. The stock's 50 day moving average price is $7.73 and its two-hundred day moving average price is $7.86. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 31.31 and a beta of 1.70. Empire State Realty Trust, Inc. has a 1-year low of $6.56 and a 1-year high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. The company had revenue of $153.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.45% and a net margin of 5.67%. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. As a group, analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.035 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.9%. Empire State Realty Trust's payout ratio is 58.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.43.

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.