Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,918,822 shares of the real estate investment trust's stock after selling 69,025 shares during the period. Wellington Management Group LLP owned approximately 3.53% of Empire State Realty Trust worth $61,082,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ESRT. GF Fund Management CO. LTD. purchased a new stake in shares of Empire State Realty Trust in the fourth quarter valued at approximately $26,000. Sterling Capital Management LLC boosted its stake 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 during the last quarter. State of Wyoming purchased a new stake in Empire State Realty Trust in the 4th quarter valued at $54,000. Pinney & Scofield Inc. acquired a new stake in shares of Empire State Realty Trust in the 4th quarter worth $103,000. Finally, Versor Investments LP acquired a new stake in shares of Empire State Realty Trust in the 4th quarter worth $105,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thomas P. Durels sold 5,779 shares of Empire State Realty Trust stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the completion of the sale, the executive vice president now owns 56,028 shares of the company's stock, valued at $449,904.84. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,122 shares of company stock valued at $242,761 in the last ninety days. Insiders own 14.60% of the company's stock.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock traded up $0.03 during trading hours on Monday, hitting $7.69. The stock had a trading volume of 348,674 shares, compared to its average volume of 1,247,689. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 27.48 and a beta of 1.60. The stock's fifty day moving average is $7.38 and its two-hundred day moving average is $8.89. 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 posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $154.54 million for 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 predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.14 annualized dividend and a dividend yield of 1.82%. Empire State Realty Trust's dividend payout ratio is currently 46.67%.

Wall Street Analysts Forecast Growth

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

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.