Inspire Investing LLC Sells 8,755 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Inspire Investing LLC lessened its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 19.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,425 shares of the real estate investment trust’s stock after selling 8,755 shares during the quarter. Inspire Investing LLC’s holdings in Empire State Realty Trust were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESRT. Wellington Management Group LLP raised its position in shares of Empire State Realty Trust by 19.3% during the fourth quarter. Wellington Management Group LLP now owns 5,821,372 shares of the real estate investment trust’s stock worth $56,409,000 after purchasing an additional 943,593 shares during the period. Vert Asset Management LLC lifted its stake in Empire State Realty Trust by 3.9% in the first quarter. Vert Asset Management LLC now owns 54,897 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 2,050 shares in the last quarter. 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. BNP Paribas Financial Markets increased its position in shares of Empire State Realty Trust by 33.5% during the first quarter. BNP Paribas Financial Markets now owns 71,950 shares of the real estate investment trust’s stock worth $729,000 after acquiring an additional 18,075 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Empire State Realty Trust by 9.6% during the first quarter. Daiwa Securities Group Inc. now owns 42,481 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 3,709 shares during the period. 67.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESRT. 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. BMO Capital Markets upped their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th.

Empire State Realty Trust Trading Up 1.5 %

Shares of NYSE:ESRT opened at $11.28 on Wednesday. The company’s 50-day moving average price is $10.62 and its two-hundred day moving average price is $9.95. Empire State Realty Trust, Inc. has a one year low of $7.34 and a one year high of $11.49. 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 has a market capitalization of $1.86 billion, a PE ratio of 37.60 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. The company had revenue of $189.54 million during the quarter. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, September 16th. Empire State Realty Trust’s payout ratio is presently 46.67%.

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.