Wellington Management Group LLP Lowers Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Wellington Management Group LLP cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,918,822 shares of the real estate investment trust's stock after selling 69,025 shares during the quarter. Wellington Management Group LLP owned approximately 3.53% of Empire State Realty Trust worth $61,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its holdings in shares of Empire State Realty Trust by 42.4% during the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock valued at $95,306,000 after purchasing an additional 2,750,045 shares during the period. Waterfront Capital Partners LLC bought a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $11,048,000. Northern Trust Corp grew its position in Empire State Realty Trust by 42.1% during the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust's stock valued at $26,835,000 after buying an additional 771,017 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Empire State Realty Trust by 53.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,118,085 shares of the real estate investment trust's stock valued at $21,859,000 after acquiring an additional 741,234 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Empire State Realty Trust by 26.3% during the 4th quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust's stock worth $29,791,000 after acquiring an additional 601,077 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Empire State Realty Trust

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

Analyst Ratings Changes

Several equities analysts recently commented on ESRT shares. Wells Fargo & Company reduced their price objective 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. Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target for the company in a report on Tuesday, March 25th. Wall Street Zen downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, May 19th. Finally, Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Price Performance

Shares of NYSE ESRT traded down $0.16 during midday trading on Friday, reaching $7.68. 1,500,063 shares of the stock traded hands, compared to its average volume of 1,251,617. Empire State Realty Trust, Inc. has a one year low of $6.56 and a one year high of $11.62. 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 company's 50 day moving average is $7.38 and its 200 day moving average is $8.91. The stock has a market capitalization of $1.29 billion, a PE ratio of 27.43 and a beta of 1.60.

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 (EPS) for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $154.54 million during the quarter. On average, equities research analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

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

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.