Millennium Management LLC Cuts Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Millennium Management LLC cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,476,646 shares of the real estate investment trust's stock after selling 624,502 shares during the period. Millennium Management LLC owned 0.89% of Empire State Realty Trust worth $15,239,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ESRT. Sterling Capital Management LLC grew its stake in Empire State Realty Trust by 819.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 3,828 shares during the last quarter. Versor Investments LP acquired a new stake in Empire State Realty Trust in the fourth quarter valued at about $105,000. XTX Topco Ltd acquired a new stake in Empire State Realty Trust in the fourth quarter valued at about $110,000. NewEdge Advisors LLC acquired a new stake in Empire State Realty Trust in the fourth quarter valued at about $117,000. Finally, Inspire Advisors LLC acquired a new position in shares of Empire State Realty Trust in the fourth quarter valued at approximately $125,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Insider Activity at Empire State Realty Trust

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 5,779 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.03, for a total value of $46,405.37. Following the sale, the executive vice president now owns 56,028 shares of the company's stock, valued at $449,904.84. This trade represents a 9.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 30,122 shares of company stock worth $242,761. Corporate insiders own 14.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ESRT. Wolfe Research raised 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 research report on Tuesday, March 25th. Wall Street Zen downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a report on Friday, April 11th. Finally, 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 on the stock in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.43.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock traded up $0.17 on Wednesday, reaching $7.73. 303,780 shares of the company traded hands, compared to its average volume of 1,239,179. Empire State Realty Trust, Inc. has a 52 week low of $6.56 and a 52 week 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 has a 50 day moving average of $7.40 and a 200 day moving average of $8.96. The firm has a market capitalization of $1.30 billion, a PE ratio of 27.55 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 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. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.81%. Empire State Realty Trust's dividend 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.