Wellington Management Group LLP Has $7.31 Million Stock Position in 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 trimmed its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 84.2% in the first quarter, according to the company in its most recent 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 0.56% of Empire State Realty Trust worth $7,311,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ESRT. Northern Trust Corp grew its stake in shares of Empire State Realty Trust by 0.3% during the 1st quarter. Northern Trust Corp now owns 2,607,864 shares of the real estate investment trust's stock worth $20,393,000 after acquiring an additional 7,536 shares in the last quarter. Versor Investments LP grew its stake in shares of Empire State Realty Trust by 23.5% during the 1st quarter. Versor Investments LP now owns 12,600 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 2,400 shares in the last quarter. Algert Global LLC grew its stake in shares of Empire State Realty Trust by 167.9% during the 1st quarter. Algert Global LLC now owns 189,391 shares of the real estate investment trust's stock worth $1,481,000 after acquiring an additional 118,690 shares in the last quarter. Aberdeen Group plc grew its stake in shares of Empire State Realty Trust by 4.2% during the 1st quarter. Aberdeen Group plc now owns 41,276 shares of the real estate investment trust's stock worth $323,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its stake in shares of Empire State Realty Trust by 12.5% in the first quarter. Fox Run Management L.L.C. now owns 32,050 shares of the real estate investment trust's stock valued at $251,000 after buying an additional 3,561 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock traded down $0.07 during mid-day trading on Tuesday, hitting $7.59. 456,628 shares of the company's stock traded hands, compared to its average volume of 1,557,272. Empire State Realty Trust, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $11.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 31.61 and a beta of 1.78. The firm has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $7.81.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last posted 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 company 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. On average, research analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. Empire State Realty Trust's dividend payout ratio (DPR) is currently 58.33%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Wells Fargo & Company decreased their target price 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. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.43.

Empire State Realty Trust Company 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.