Empire State Realty Trust, Inc. $ESRT Holdings Lowered by Vanguard Group Inc.

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. decreased its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Centersquare Investment Management LLC boosted its position in Empire State Realty Trust by 6,189.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,805,998 shares of the real estate investment trust's stock worth $21,943,000 after acquiring an additional 2,761,385 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Empire State Realty Trust during the first quarter valued at about $207,000. US Bancorp DE lifted its holdings in Empire State Realty Trust by 22.4% in the first quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 1,824 shares during the period. GSA Capital Partners LLP grew its position in Empire State Realty Trust by 173.6% in the 1st quarter. GSA Capital Partners LLP now owns 108,314 shares of the real estate investment trust's stock valued at $847,000 after buying an additional 68,720 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Empire State Realty Trust by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 20,868 shares of the real estate investment trust's stock valued at $163,000 after buying an additional 2,552 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company's stock.

Wall Street Analyst Weigh In

ESRT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company lowered 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 research note on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.43.

Empire State Realty Trust Price Performance

NYSE ESRT traded down $0.05 on Tuesday, reaching $7.47. The company's stock had a trading volume of 1,268,761 shares, compared to its average volume of 1,412,733. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.03 and a current ratio of 4.03. The firm's 50 day moving average is $7.75 and its two-hundred day moving average is $7.87. The stock has a market cap of $1.27 billion, a PE ratio of 31.11 and a beta of 1.70.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter. Empire State Realty Trust had a net margin of 5.67% and a return on equity of 2.45%. The company had revenue of $153.54 million for the quarter. Empire State Realty Trust has set its FY 2025 guidance at 0.830-0.860 EPS. As a group, sell-side analysts predict that Empire State Realty Trust, Inc. will post 0.88 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.035 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.14 annualized dividend and a 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.