ProShare Advisors LLC Sells 6,042 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

ProShare Advisors LLC reduced its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 25.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,705 shares of the real estate investment trust’s stock after selling 6,042 shares during the quarter. ProShare Advisors LLC’s holdings in Empire State Realty Trust were worth $166,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ESRT. Mercer Global Advisors Inc. ADV purchased a new stake in Empire State Realty Trust in the 2nd quarter worth approximately $137,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Empire State Realty Trust in the first quarter worth $143,000. Inspire Advisors LLC bought a new stake in Empire State Realty Trust during the second quarter valued at $171,000. MQS Management LLC purchased a new position in Empire State Realty Trust during the first quarter worth about $172,000. Finally, Capital Investment Counsel Inc bought a new position in Empire State Realty Trust in the 2nd quarter worth about $186,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ESRT. BMO Capital Markets lifted their price target on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their price target 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. Finally, StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th.

Empire State Realty Trust Stock Performance

Shares of NYSE ESRT opened at $10.78 on Friday. The stock’s 50-day moving average is $10.57 and its 200 day moving average is $9.91. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 35.93, a P/E/G ratio of 6.70 and a beta of 1.40. Empire State Realty Trust, Inc. has a 1-year low of $7.25 and a 1-year high of $11.43. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The business had revenue of $189.54 million for the quarter. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, sell-side analysts anticipate that Empire State Realty Trust, Inc. will post 0.94 EPS for the current fiscal year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s dividend payout ratio is presently 46.67%.

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.