Epoch Investment Partners Inc. Reduces Stock Holdings in Empire State Realty Trust, Inc. $ESRT

Key Points

• Epoch Investment Partners Inc. reduced its stake in Empire State Realty Trust by 47.0% in Q1, holding 64,065 shares valued at $501,000.
• Empire State Realty Trust's stock received a mix of ratings, currently averaging a "Hold" with a target price of $10.43.
• The company announced a quarterly dividend of $0.035 per share, resulting in an annual yield of 1.8% and a payout ratio of 58.33%.

Epoch Investment Partners Inc. trimmed its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 47.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,065 shares of the real estate investment trust's stock after selling 56,779 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Empire State Realty Trust were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aberdeen Group plc increased its position in Empire State Realty Trust by 4.2% in the 1st quarter. Aberdeen Group plc now owns 41,276 shares of the real estate investment trust's stock valued at $323,000 after buying an additional 1,672 shares in the last quarter. US Bancorp DE increased its position in Empire State Realty Trust by 22.4% in the 1st quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock valued at $78,000 after buying an additional 1,824 shares in the last quarter. MetLife Investment Management LLC increased its position in Empire State Realty Trust by 2.3% in the 4th quarter. MetLife Investment Management LLC now owns 83,357 shares of the real estate investment trust's stock valued at $860,000 after buying an additional 1,855 shares in the last quarter. Versor Investments LP increased its position in Empire State Realty Trust by 23.5% in the 1st quarter. Versor Investments LP now owns 12,600 shares of the real estate investment trust's stock valued at $99,000 after buying an additional 2,400 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Empire State Realty Trust by 16.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,239 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 2,484 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ESRT. Wells Fargo & Company decreased their target price on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Stock Up 0.3%

Shares of NYSE:ESRT traded up $0.03 during mid-day trading on Friday, hitting $7.66. 1,461,631 shares of the company traded hands, compared to its average volume of 1,328,326. The stock has a market cap of $1.30 billion, a P/E ratio of 31.90 and a beta of 1.70. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $7.70 and a two-hundred day moving average price of $7.83. Empire State Realty Trust, Inc. has a 12-month low of $6.56 and a 12-month high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $153.54 million during 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. On average, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.14 annualized dividend and a dividend yield of 1.8%. Empire State Realty Trust's dividend payout ratio is currently 58.33%.

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.