Schroder Investment Management Group cut its stake in Empire State Realty Trust Inc (NYSE:ESRT) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,325,714 shares of the real estate investment trust’s stock after selling 43,535 shares during the period. Schroder Investment Management Group owned 0.79% of Empire State Realty Trust worth $22,657,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new stake in Empire State Realty Trust in the second quarter worth $200,000. Nisa Investment Advisors LLC bought a new position in shares of Empire State Realty Trust in the second quarter worth $137,000. Eqis Capital Management Inc. bought a new position in shares of Empire State Realty Trust in the second quarter worth $172,000. Brown Advisory Inc. bought a new position in shares of Empire State Realty Trust in the first quarter worth $177,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Empire State Realty Trust in the second quarter worth $184,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.
In other Empire State Realty Trust news, CFO David A. Karp purchased 4,500 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was bought at an average price of $16.19 per share, with a total value of $72,855.00. Following the completion of the purchase, the chief financial officer now owns 5,500 shares in the company, valued at approximately $89,045. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 11.50% of the company’s stock.
Several research analysts have recently issued reports on ESRT shares. BTIG Research cut Empire State Realty Trust from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Tuesday, July 31st. Zacks Investment Research cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, Bank of America cut Empire State Realty Trust from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Empire State Realty Trust has an average rating of “Hold” and a consensus target price of $20.86.
NYSE:ESRT opened at $15.73 on Friday. Empire State Realty Trust Inc has a 1 year low of $15.61 and a 1 year high of $21.09. The firm has a market capitalization of $2.79 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 4.69 and a beta of 0.92. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.97.
Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Empire State Realty Trust had a return on equity of 4.62% and a net margin of 12.72%. The company had revenue of $124.04 million during the quarter, compared to analysts’ expectations of $122.58 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Empire State Realty Trust Inc will post 0.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.105 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.42 annualized dividend and a dividend yield of 2.67%. Empire State Realty Trust’s payout ratio is 43.75%.
Empire State Realty Trust Profile
Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
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