Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Greenland Capital Management LP

Greenland Capital Management LP cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,183 shares of the real estate investment trust's stock after selling 65,817 shares during the period. Greenland Capital Management LP owned approximately 0.08% of Empire State Realty Trust worth $1,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vestcor Inc increased its holdings in Empire State Realty Trust by 308.6% in the 3rd quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust's stock valued at $1,388,000 after purchasing an additional 94,582 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock worth $17,905,000 after buying an additional 98,850 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Empire State Realty Trust by 143.8% in the fourth quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust's stock valued at $2,711,000 after buying an additional 154,920 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust's stock valued at $2,533,000 after buying an additional 111,589 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in Empire State Realty Trust by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock worth $38,394,000 after acquiring an additional 90,758 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have 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 target price for the company in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd.

Empire State Realty Trust Stock Up 2.6 %

ESRT traded up $0.18 on Friday, hitting $7.04. 1,372,281 shares of the company were exchanged, compared to its average volume of 1,191,177. The firm has a 50-day moving average price of $8.32 and a two-hundred day moving average price of $9.76. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. 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 market cap of $1.18 billion, a price-to-earnings ratio of 25.13 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The business had revenue of $155.13 million during the quarter, compared to analysts' expectations of $192.62 million. On average, equities analysts predict that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, March 14th. Empire State Realty Trust's dividend payout ratio is presently 50.00%.

Insider Activity

In related news, EVP Thomas P. Durels sold 5,779 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.03, for a total transaction of $46,405.37. Following the completion of the transaction, the executive vice president now owns 56,028 shares in the company, valued at approximately $449,904.84. The trade was a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 30,122 shares of company stock worth $242,761. 13.95% of the stock is currently owned by corporate insiders.

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.