Empire State Realty Trust, Inc. (NYSE:ESRT) Shares Sold by Ritholtz Wealth Management

by · The Markets Daily

Ritholtz Wealth Management trimmed its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT – Free Report) by 22.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 112,527 shares of the real estate investment trust’s stock after selling 31,863 shares during the period. Ritholtz Wealth Management owned approximately 0.07% of Empire State Realty Trust worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Empire State Realty Trust in the 2nd quarter valued at approximately $137,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Empire State Realty Trust in the first quarter valued at approximately $143,000. Inspire Advisors LLC purchased a new stake in Empire State Realty Trust during the 2nd quarter worth approximately $171,000. MQS Management LLC purchased a new position in Empire State Realty Trust in the 1st quarter valued at approximately $172,000. Finally, Capital Investment Counsel Inc acquired a new position in shares of Empire State Realty Trust in the second quarter worth $186,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 0.8 %

Empire State Realty Trust stock opened at $11.03 on Monday. The stock has a market cap of $1.82 billion, a PE ratio of 36.77 and a beta of 1.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The stock’s fifty day moving average is $10.60 and its two-hundred day moving average is $9.95. Empire State Realty Trust, Inc. has a 1-year low of $7.34 and a 1-year high of $11.43.

Empire State Realty Trust (NYSE:ESRT – Get Free Report) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). The business had revenue of $189.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.92 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ESRT shares. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company upped their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th.

Read Our Latest Research Report on Empire State Realty Trust

Empire State Realty Trust Profile

(Free Report)

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.

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