Wellington Management Group LLP Trims Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Wellington Management Group LLP trimmed its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 16.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,987,847 shares of the real estate investment trust’s stock after selling 1,158,978 shares during the quarter. Wellington Management Group LLP owned approximately 3.60% of Empire State Realty Trust worth $66,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ESRT. Charles Schwab Investment Management Inc. raised its stake in Empire State Realty Trust by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,758,869 shares of the real estate investment trust’s stock valued at $41,648,000 after purchasing an additional 171,056 shares during the last quarter. Vision Capital Corp raised its position in shares of Empire State Realty Trust by 79.9% in the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after buying an additional 1,245,211 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Empire State Realty Trust by 392.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,288 shares of the real estate investment trust’s stock valued at $12,180,000 after buying an additional 875,836 shares during the period. Bank of New York Mellon Corp boosted its position in Empire State Realty Trust by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 848,486 shares of the real estate investment trust’s stock worth $7,959,000 after acquiring an additional 37,370 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in Empire State Realty Trust in the 2nd quarter worth approximately $7,926,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Trading Down 0.8 %

Shares of ESRT opened at $11.21 on Wednesday. Empire State Realty Trust, Inc. has a twelve month low of $8.78 and a twelve month high of $11.62. The firm has a market capitalization of $1.87 billion, a P/E ratio of 41.52 and a beta of 1.41. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $10.93 and its 200 day simple moving average is $10.40.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The firm had revenue of $199.60 million during the quarter. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities research analysts forecast that Empire State Realty Trust, Inc. will post 0.93 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.25%. Empire State Realty Trust’s dividend payout ratio is currently 51.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Wells Fargo & Company lifted their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets increased their price objective on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

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.