Monument Capital Management Sells 2,014 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Monument Capital Management lessened its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,594 shares of the real estate investment trust’s stock after selling 2,014 shares during the quarter. Monument Capital Management’s holdings in Empire State Realty Trust were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Empire State Realty Trust by 19.3% in the 4th quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock worth $56,409,000 after buying an additional 943,593 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Empire State Realty Trust by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,285,543 shares of the real estate investment trust’s stock valued at $31,837,000 after purchasing an additional 245,458 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in Empire State Realty Trust by 36.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,467,453 shares of the real estate investment trust’s stock valued at $23,910,000 after purchasing an additional 663,159 shares during the last quarter. Norges Bank bought a new stake in Empire State Realty Trust in the fourth quarter valued at approximately $8,571,000. Finally, Invesco Ltd. lifted its position in Empire State Realty Trust by 2.1% in the third quarter. Invesco Ltd. now owns 792,663 shares of the real estate investment trust’s stock valued at $6,373,000 after purchasing an additional 15,938 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $9.31 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. Empire State Realty Trust, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $10.32. The stock has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $9.60. The company has a market capitalization of $1.54 billion, a P/E ratio of 31.02, a PEG ratio of 5.71 and a beta of 1.40.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.50%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 46.67%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Empire State Realty Trust currently has a consensus rating of “Hold” and an average target price of $8.33.

Empire State Realty Trust 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.