Ritholtz Wealth Management Lowers Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Ritholtz Wealth Management cut its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 42.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,766 shares of the real estate investment trust's stock after selling 42,047 shares during the quarter. Ritholtz Wealth Management's holdings in Empire State Realty Trust were worth $452,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Empire State Realty Trust during the fourth quarter valued at about $26,000. Sterling Capital Management LLC lifted its position in shares of Empire State Realty Trust by 819.7% during the fourth 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. State of Wyoming purchased a new stake in shares of Empire State Realty Trust during the fourth quarter valued at about $54,000. Pinney & Scofield Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at about $103,000. Finally, Versor Investments LP bought a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $105,000. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Stock Performance

NYSE:ESRT traded up $0.02 during mid-day trading on Friday, hitting $8.59. The company's stock had a trading volume of 2,456,154 shares, compared to its average volume of 1,305,726. The business's fifty day moving average is $7.68 and its two-hundred day moving average is $8.65. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 28.62 and a beta of 1.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.83 and a quick ratio of 3.83. Empire State Realty Trust, Inc. has a 1 year low of $6.56 and a 1 year high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 3.00% and a net margin of 6.92%. The business had revenue of $154.54 million during the quarter. Analysts anticipate that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, June 13th. Empire State Realty Trust's payout ratio is presently 46.67%.

Insiders Place Their Bets

In related news, EVP Thomas P. Durels sold 11,843 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $8.02, for a total transaction of $94,980.86. Following the sale, the executive vice president now owns 44,185 shares in the company, valued at approximately $354,363.70. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESRT. Wall Street Zen downgraded Empire State Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, May 19th. Wolfe Research upgraded Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research note on Tuesday, March 25th. Citigroup restated a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut their price target 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 given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.43.

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.