Ritholtz Wealth Management Has $452,000 Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Ritholtz Wealth Management lessened its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,766 shares of the real estate investment trust's stock after selling 42,047 shares during the period. Ritholtz Wealth Management's holdings in Empire State Realty Trust were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in shares of Empire State Realty Trust during the 4th quarter worth approximately $26,000. Sterling Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 3,828 shares during the last quarter. State of Wyoming acquired a new position in shares of Empire State Realty Trust in the 4th quarter valued at $54,000. Pinney & Scofield Inc. acquired a new position in shares of Empire State Realty Trust during the 4th quarter valued at $103,000. Finally, Versor Investments LP acquired a new position in shares of Empire State Realty Trust during the 4th quarter valued at $105,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ESRT has been the topic of several analyst reports. Wall Street Zen downgraded shares of Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Citigroup reaffirmed a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a report on Tuesday, March 25th. 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 equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Empire State Realty Trust presently has a consensus rating of "Hold" and an average target price of $10.43.

Empire State Realty Trust Trading Down 0.8%

Shares of NYSE ESRT traded down $0.07 during mid-day trading on Monday, hitting $8.50. The company's stock had a trading volume of 2,229,549 shares, compared to its average volume of 1,308,683. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 28.33 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 one year low of $6.56 and a one year high of $11.62. The company's fifty day simple moving average is $7.71 and its 200-day simple moving average is $8.61.

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 (EPS) for the quarter. Empire State Realty Trust had a net margin of 6.92% and a return on equity of 3.00%. The company had revenue of $154.54 million for the quarter. On average, sell-side analysts anticipate 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 company 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 dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, June 13th. Empire State Realty Trust's payout ratio is 46.67%.

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.