Bbjs Financial Advisors LLC Cuts Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Bbjs Financial Advisors LLC lowered its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 1.9% in the third quarter, Holdings Channel reports. The institutional investor owned 67,942 shares of the real estate investment trust’s stock after selling 1,298 shares during the period. Bbjs Financial Advisors LLC’s holdings in Empire State Realty Trust were worth $753,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Empire State Realty Trust by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 19,287,935 shares of the real estate investment trust’s stock worth $195,387,000 after purchasing an additional 175,718 shares during the period. Wellington Management Group LLP grew its stake in shares of Empire State Realty Trust by 19.3% during 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 purchasing an additional 943,593 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Empire State Realty Trust by 4.6% during the 2nd 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 purchasing an additional 37,370 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of Empire State Realty Trust during the 2nd quarter worth $7,926,000. Finally, Foundry Partners LLC grew its stake in shares of Empire State Realty Trust by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 689,651 shares of the real estate investment trust’s stock worth $6,469,000 after purchasing an additional 34,720 shares during the period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT traded up $0.27 on Tuesday, hitting $11.38. The company had a trading volume of 869,337 shares, compared to its average volume of 1,111,890. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23. The company has a market cap of $1.88 billion, a PE ratio of 37.02 and a beta of 1.40. Empire State Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.49. The business has a 50 day moving average of $10.62 and a 200 day moving average of $9.95.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The company had revenue of $189.54 million for the quarter. Empire State Realty Trust had a net margin of 5.89% and a return on equity of 2.57%. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts anticipate that Empire State Realty Trust, Inc. will post 0.92 earnings per share 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. Investors of record on Monday, September 16th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s payout ratio is currently 46.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their target price on shares of 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.

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.