Invesco Ltd. Sells 1,324,242 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Invesco Ltd. cut its position in Empire State Realty Trust, Inc. (NYSE:ESRT - Free Report) by 65.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 709,946 shares of the real estate investment trust's stock after selling 1,324,242 shares during the quarter. Invesco Ltd. owned 0.43% of Empire State Realty Trust worth $7,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Empire State Realty Trust by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust's stock worth $17,905,000 after purchasing an additional 98,850 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Empire State Realty Trust by 143.8% during 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. Centersquare Investment Management LLC bought a new position in Empire State Realty Trust during the 4th quarter worth approximately $460,000. Vanguard Group Inc. grew its position in shares of Empire State Realty Trust by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 19,844,999 shares of the real estate investment trust's stock worth $204,800,000 after acquiring an additional 461,421 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Empire State Realty Trust by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 3,720,315 shares of the real estate investment trust's stock valued at $38,394,000 after acquiring an additional 90,758 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Stock Up 2.6 %

Shares of ESRT stock traded up $0.18 on Wednesday, hitting $7.14. The company's stock had a trading volume of 2,533,568 shares, compared to its average volume of 1,214,874. Empire State Realty Trust, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $11.62. The firm's fifty day moving average price is $7.76 and its 200-day moving average price is $9.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 25.50 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released 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 net margin of 6.45% and a return on equity of 2.84%. The company had revenue of $154.54 million for the quarter. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.96%. Empire State Realty Trust's dividend payout ratio is presently 50.00%.

Insider Activity at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 12,500 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $8.11, for a total value of $101,375.00. Following the sale, the executive vice president now owns 74,307 shares in the company, valued at approximately $602,629.77. This trade represents a 14.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 30,122 shares of company stock worth $242,761 in the last 90 days. 14.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ESRT shares. StockNews.com upgraded shares of Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Wolfe Research upgraded shares of Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research report on Tuesday, March 25th. Finally, Citigroup reiterated a "neutral" rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Empire State Realty Trust presently has an average rating of "Hold" and an average target price of $11.00.

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.