Charles Schwab Investment Management Inc. Cuts Holdings in Empire State Realty Trust, Inc. $ESRT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Empire State Realty Trust by 10.8%, now holding about 1.95% of the company valued at approximately $25.6 million.
• Empire State Realty Trust recently declared a quarterly dividend of $0.035 per share, with a dividend yield of 1.9% and a payout ratio of 58.33%.
• Analysts have set a consensus price target of $10.43 for the trust, with mixed ratings: two "Buy," one "Hold," and one "Sell."

Charles Schwab Investment Management Inc. decreased its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,278,456 shares of the real estate investment trust's stock after selling 398,966 shares during the period. Charles Schwab Investment Management Inc. owned 1.95% of Empire State Realty Trust worth $25,638,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Empire State Realty Trust in the fourth quarter worth about $26,000. Sterling Capital Management LLC raised its position in Empire State Realty Trust by 819.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 3,828 shares during the period. State of Wyoming bought a new stake in Empire State Realty Trust in the fourth quarter worth about $54,000. US Bancorp DE raised its position in Empire State Realty Trust by 22.4% in the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 1,824 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in shares of Empire State Realty Trust in the fourth quarter worth about $103,000. Institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Price Performance

NYSE:ESRT traded down $0.05 during mid-day trading on Tuesday, hitting $7.47. 1,268,761 shares of the stock traded hands, compared to its average volume of 1,412,733. The business's 50-day moving average price is $7.75 and its 200 day moving average price is $7.87. The company has a market cap of $1.27 billion, a PE ratio of 31.11 and a beta of 1.70. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.15.

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

Empire State Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.