Ritholtz Wealth Management Cuts Position in Empire State Realty Trust, Inc. $ESRT

Ritholtz Wealth Management decreased its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 76.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,798 shares of the real estate investment trust's stock after selling 43,968 shares during the period. Ritholtz Wealth Management's holdings in Empire State Realty Trust were worth $112,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP grew its position in Empire State Realty Trust by 173.6% in the first quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust's stock valued at $847,000 after acquiring an additional 68,720 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Empire State Realty Trust in the first quarter valued at approximately $610,000. Jump Financial LLC acquired a new stake in Empire State Realty Trust in the first quarter valued at approximately $464,000. SG Americas Securities LLC grew its position in Empire State Realty Trust by 6.9% in the first quarter. SG Americas Securities LLC now owns 42,372 shares of the real estate investment trust's stock valued at $331,000 after acquiring an additional 2,736 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Empire State Realty Trust by 10.7% in the first quarter. Principal Financial Group Inc. now owns 118,951 shares of the real estate investment trust's stock valued at $930,000 after acquiring an additional 11,460 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ESRT shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Empire State Realty Trust in a research report on Tuesday, October 14th. Wall Street Zen raised shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $10.43.

Empire State Realty Trust Stock Up 1.0%

ESRT stock opened at $7.76 on Thursday. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.43. 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 company has a market capitalization of $1.32 billion, a P/E ratio of 32.31 and a beta of 1.79. The firm has a 50 day simple moving average of $7.57 and a 200-day simple moving average of $7.63.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The business had revenue of $153.54 million during the quarter. On average, equities research analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.8%. Empire State Realty Trust's dividend payout ratio (DPR) is presently 58.33%.

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.

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