Vanguard Group Inc. Sells 120,195 Shares of Empire State Realty Trust, Inc. $ESRT

Key Points

• Vanguard Group Inc. has reduced its stake in Empire State Realty Trust by 0.6%, now owning approximately 19.7 million shares, representing about 11.76% of the company.
• Wall Street analysts have issued mixed ratings for Empire State Realty Trust, with an average target price of $10.43, and one firm downgraded the stock from "hold" to "sell."
• The company declared a quarterly dividend of $0.035 per share, which will be paid on September 30th, giving an annualized yield of 1.9%.

Vanguard Group Inc. lessened its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,724,804 shares of the real estate investment trust's stock after selling 120,195 shares during the period. Vanguard Group Inc. owned approximately 11.76% of Empire State Realty Trust worth $154,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ESRT. GF Fund Management CO. LTD. bought a new stake in shares of Empire State Realty Trust during the fourth quarter worth approximately $26,000. Sterling Capital Management LLC boosted its holdings 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 worth $44,000 after acquiring an additional 3,828 shares during the period. State of Wyoming bought a new stake in shares of Empire State Realty Trust during the fourth quarter worth approximately $54,000. US Bancorp DE boosted its holdings in shares of Empire State Realty Trust by 22.4% during the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 1,824 shares during the period. Finally, Pinney & Scofield Inc. bought a new stake in shares of Empire State Realty Trust during the fourth quarter worth approximately $103,000. Institutional investors own 67.10% of the company's stock.

Wall Street Analysts Forecast Growth

ESRT has been the subject of several analyst reports. Wells Fargo & Company dropped 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 research note on Monday, May 19th. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Two 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. According to data from MarketBeat.com, Empire State Realty Trust has a consensus rating of "Hold" and a consensus target price of $10.43.

Empire State Realty Trust Price Performance

NYSE ESRT traded down $0.1150 on Monday, hitting $7.5450. 294,706 shares of the company's stock were exchanged, compared to its average volume of 1,569,156. The stock has a 50-day moving average of $7.80 and a 200-day moving average of $7.88. 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, Inc. has a 52 week low of $6.56 and a 52 week high of $11.62. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 31.44 and a beta of 1.70.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its 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 return on equity of 2.45% and a net margin of 5.67%.The firm had revenue of $153.54 million during the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. Analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.14 annualized dividend and a dividend yield of 1.9%. Empire State Realty Trust's payout ratio is 58.33%.

Empire State Realty Trust 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.