Quest Partners LLC Sells 7,086 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Quest Partners LLC lowered its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 8.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,508 shares of the real estate investment trust’s stock after selling 7,086 shares during the period. Quest Partners LLC’s holdings in Empire State Realty Trust were worth $859,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its stake in Empire State Realty Trust by 81.6% in the 3rd quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,524 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Empire State Realty Trust by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,419 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Empire State Realty Trust in the third quarter valued at about $129,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Empire State Realty Trust in the second quarter worth about $137,000. Finally, Creative Planning lifted its position in shares of Empire State Realty Trust by 20.5% during the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

ESRT has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price 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. BMO Capital Markets raised 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 research note on Friday, November 15th. Finally, StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd.

Empire State Realty Trust Trading Up 0.9 %

Empire State Realty Trust stock opened at $10.88 on Friday. The business has a 50 day moving average price of $10.91 and a two-hundred day moving average price of $10.23. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. Empire State Realty Trust, Inc. has a 12 month low of $8.39 and a 12 month high of $11.62. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 40.33 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $199.60 million during the quarter. Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. During the same period last year, the firm earned $0.25 EPS. As a group, equities analysts forecast that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

About Empire State Realty Trust

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.