Empire State Realty Trust, Inc. $ESRT Shares Sold by Charles Schwab Investment Management Inc.

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 position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,278,456 shares of the real estate investment trust's stock after selling 398,966 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.95% of Empire State Realty Trust worth $25,638,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its holdings in shares of Empire State Realty Trust by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,263 shares of the real estate investment trust's stock worth $147,000 after buying an additional 1,131 shares in the last quarter. US Bancorp DE lifted its holdings in shares of 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 buying an additional 1,824 shares in the last quarter. MetLife Investment Management LLC grew its position in Empire State Realty Trust by 2.3% during the fourth quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust's stock valued at $860,000 after acquiring an additional 1,855 shares during the last quarter. Cetera Investment Advisers grew its position in Empire State Realty Trust by 13.9% during the first quarter. Cetera Investment Advisers now owns 20,868 shares of the real estate investment trust's stock valued at $163,000 after acquiring an additional 2,552 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Empire State Realty Trust in the fourth quarter worth approximately $26,000. Institutional investors own 67.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company cut their target price on shares of Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating on the stock in a report on Monday, May 19th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.43.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded down $0.1150 during mid-day trading on Monday, reaching $7.5450. 294,706 shares of the company traded hands, compared to its average volume of 1,569,156. The company's 50 day moving average price is $7.80 and its 200-day moving average price is $7.88. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62. The firm has a market cap of $1.28 billion, a PE ratio of 31.44 and a beta of 1.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03.

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

Empire State Realty Trust Announces Dividend

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

Empire State Realty Trust Company 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.