Wellington Management Group LLP Sells 4,983,959 Shares of Empire State Realty Trust, Inc. $ESRT

Key Points

• Wellington Management Group LLP significantly reduced its stake in Empire State Realty Trust by 84.2%, selling nearly 5 million shares, leaving it with 934,863 shares worth approximately $7.3 million.
• Other institutional investors have shown increased activity, with GSA Capital Partners LLP and GAMMA Investing LLC raising their stakes in the trust by 173.6% and 654.8%, respectively.
• The company declared a quarterly dividend of $0.035 per share, representing a 1.8% dividend yield, with the ex-dividend date set for September 15th.

Wellington Management Group LLP decreased its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 84.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 934,863 shares of the real estate investment trust's stock after selling 4,983,959 shares during the quarter. Wellington Management Group LLP owned about 0.56% of Empire State Realty Trust worth $7,311,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of Empire State Realty Trust by 42.4% in the 4th quarter. Ameriprise Financial Inc. now owns 9,235,041 shares of the real estate investment trust's stock valued at $95,306,000 after buying an additional 2,750,045 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Empire State Realty Trust by 26.3% in the 4th 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. Centersquare Investment Management LLC grew its stake in shares of Empire State Realty Trust by 6,189.6% in the 1st quarter. Centersquare Investment Management LLC now owns 2,805,998 shares of the real estate investment trust's stock valued at $21,943,000 after buying an additional 2,761,385 shares in the last quarter. Nuveen LLC bought a new stake in shares of Empire State Realty Trust in the 1st quarter valued at approximately $21,703,000. Finally, Northern Trust Corp raised its stake in shares of Empire State Realty Trust by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,607,864 shares of the real estate investment trust's stock valued at $20,393,000 after acquiring an additional 7,536 shares in the last quarter. Institutional investors own 67.10% of the company's stock.

Empire State Realty Trust Stock Performance

NYSE:ESRT traded up $0.22 during mid-day trading on Wednesday, hitting $7.77. 1,493,444 shares of the company's stock traded hands, compared to its average volume of 1,251,675. The firm has a 50 day moving average of $7.67 and a two-hundred day moving average of $7.81. Empire State Realty Trust, Inc. has a 12 month low of $6.56 and a 12 month high of $11.62. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.36 and a beta of 1.78. 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 (NYSE:ESRT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 2.45% and a net margin of 5.67%.The firm 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. On average, equities analysts forecast that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

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 paid a dividend of $0.035 per share. The ex-dividend date is Monday, September 15th. This represents a $0.14 dividend on an annualized basis and a yield of 1.8%. Empire State Realty Trust's dividend payout ratio (DPR) is currently 58.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ESRT. Wall Street Zen raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Wells Fargo & Company cut 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. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.