Empire State Realty Trust, Inc. $ESRT Shares Sold by Epoch Investment Partners Inc.

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. cut its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 47.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,065 shares of the real estate investment trust's stock after selling 56,779 shares during the period. Epoch Investment Partners Inc.'s holdings in Empire State Realty Trust were worth $501,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Jump Financial LLC purchased a new stake in shares of Empire State Realty Trust during the first quarter valued at $464,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Empire State Realty Trust by 3.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,228,240 shares of the real estate investment trust's stock valued at $9,605,000 after buying an additional 44,630 shares during the last quarter. AlphaQuest LLC boosted its holdings in Empire State Realty Trust by 30.7% in the first quarter. AlphaQuest LLC now owns 160,114 shares of the real estate investment trust's stock valued at $1,252,000 after purchasing an additional 37,632 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Empire State Realty Trust by 13.0% in the first quarter. 1832 Asset Management L.P. now owns 654,774 shares of the real estate investment trust's stock valued at $5,120,000 after purchasing an additional 75,162 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Empire State Realty Trust by 5.2% in the first quarter. Ameriprise Financial Inc. now owns 9,711,834 shares of the real estate investment trust's stock valued at $75,915,000 after purchasing an additional 476,793 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut 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 report on Monday, May 19th. Wall Street Zen raised shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Stock Performance

NYSE:ESRT opened at $7.56 on Wednesday. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.62. The company has a market cap of $1.28 billion, a P/E ratio of 31.50 and a beta of 1.78. The company's 50-day moving average price is $7.67 and its 200-day moving average price is $7.81. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 1.15.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. The business 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, sell-side analysts forecast 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 Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.035 per share. The ex-dividend date is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.9%. Empire State Realty Trust's dividend payout ratio (DPR) 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.