Vident Advisory LLC Sells 70,377 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Vident Advisory LLC lowered its stake in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 42.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,348 shares of the real estate investment trust's stock after selling 70,377 shares during the period. Vident Advisory LLC owned approximately 0.06% of Empire State Realty Trust worth $1,005,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ESRT. Ameriprise Financial Inc. increased its position in shares of Empire State Realty Trust by 42.4% in the fourth quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock worth $95,306,000 after purchasing an additional 2,750,045 shares during the period. Waterfront Capital Partners LLC bought a new position in shares of Empire State Realty Trust in the fourth quarter worth $11,048,000. Northern Trust Corp increased its position in shares of Empire State Realty Trust by 42.1% in the fourth quarter. Northern Trust Corp now owns 2,600,328 shares of the real estate investment trust's stock worth $26,835,000 after purchasing an additional 771,017 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Empire State Realty Trust by 53.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,118,085 shares of the real estate investment trust's stock worth $21,859,000 after purchasing an additional 741,234 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Empire State Realty Trust by 26.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,886,750 shares of the real estate investment trust's stock valued at $29,791,000 after buying an additional 601,077 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Insider Activity

In other news, EVP Thomas P. Durels sold 5,779 shares of Empire State Realty Trust stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.03, for a total transaction of $46,405.37. Following the sale, the executive vice president now directly owns 56,028 shares of the company's stock, valued at approximately $449,904.84. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 30,122 shares of company stock valued at $242,761. 14.60% of the stock is currently owned by corporate insiders.

Empire State Realty Trust Price Performance

NYSE:ESRT traded down $0.16 during trading hours on Friday, hitting $7.69. The company's stock had a trading volume of 155,813 shares, compared to its average volume of 1,244,151. The stock has a fifty day simple moving average of $7.39 and a 200-day simple moving average of $8.93. The company has a market capitalization of $1.29 billion, a P/E ratio of 27.45 and a beta of 1.60. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. Empire State Realty Trust, Inc. has a twelve month low of $6.56 and a twelve month high of $11.62.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The firm had revenue of $154.54 million for the quarter. On average, 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, June 13th. Empire State Realty Trust's payout ratio is 46.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research note on Tuesday, March 25th. Citigroup reaffirmed a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on 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. Finally, Wall Street Zen lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.43.

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.