Cerity Partners LLC Trims Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Cerity Partners LLC cut its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,253 shares of the real estate investment trust’s stock after selling 1,958 shares during the quarter. Cerity Partners LLC’s holdings in Empire State Realty Trust were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ESRT. Signaturefd LLC grew its holdings in shares of Empire State Realty Trust by 81.6% during the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,524 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Empire State Realty Trust by 35.5% during 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 bought a new stake in Empire State Realty Trust during the third quarter valued at approximately $129,000. Creative Planning grew its stake in Empire State Realty Trust by 20.5% in the 3rd quarter. Creative Planning now owns 12,598 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 2,145 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of Empire State Realty Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 14,265 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 3,987 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Price Performance

Shares of Empire State Realty Trust stock opened at $10.89 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. Empire State Realty Trust, Inc. has a 52-week low of $8.78 and a 52-week high of $11.62. The company has a fifty day moving average of $10.92 and a 200-day moving average of $10.35. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 40.33 and a beta of 1.40.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The company had revenue of $199.60 million for the quarter. During the same quarter in the prior year, the business earned $0.25 earnings per share. Equities research analysts expect that Empire State Realty Trust, Inc. will post 0.93 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.29%. Empire State Realty Trust’s payout ratio is currently 51.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ESRT. Wells Fargo & Company lifted their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th. BMO Capital Markets lifted their price target on 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 lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd.

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.