Quest Partners LLC Reduces Stock Holdings in Empire State Realty Trust, Inc. (NYSE:ESRT)

Quest Partners LLC reduced its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,594 shares of the real estate investment trust’s stock after selling 8,065 shares during the period. Quest Partners LLC owned about 0.05% of Empire State Realty Trust worth $793,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ESRT. Scotia Capital Inc. acquired a new position in shares of Empire State Realty Trust in the 4th quarter valued at $123,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Empire State Realty Trust in the 1st quarter valued at $143,000. QRG Capital Management Inc. lifted its stake in shares of Empire State Realty Trust by 20.5% in the 4th quarter. QRG Capital Management Inc. now owns 16,297 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 2,776 shares during the period. MQS Management LLC acquired a new position in shares of Empire State Realty Trust in the 1st quarter valued at $172,000. Finally, Capital Investment Counsel Inc acquired a new position in shares of Empire State Realty Trust in the 2nd quarter valued at $186,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ESRT shares. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on shares of 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.

Empire State Realty Trust Stock Performance

NYSE:ESRT opened at $10.16 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24. The company has a fifty day moving average of $10.34 and a two-hundred day moving average of $9.77. The stock has a market capitalization of $1.68 billion, a PE ratio of 33.85, a P/E/G ratio of 6.20 and a beta of 1.40. Empire State Realty Trust, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $11.20.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share 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 return on equity of 2.57% and a net margin of 5.89%. During the same period in the previous year, the company earned $0.26 EPS. As a group, research analysts forecast that Empire State Realty Trust, Inc. will post 0.94 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust’s dividend 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.