O Shaughnessy Asset Management LLC Sells 25,091 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

O Shaughnessy Asset Management LLC reduced its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555,593 shares of the real estate investment trust’s stock after selling 25,091 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.34% of Empire State Realty Trust worth $5,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $34,000. Spirit of America Management Corp NY bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $87,000. New York State Teachers Retirement System bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $115,000. Scotia Capital Inc. bought a new stake in shares of Empire State Realty Trust in the 4th quarter valued at approximately $123,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Empire State Realty Trust in the 1st quarter valued at approximately $143,000. 67.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ESRT shares. BMO Capital Markets upped their price objective on Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.25.

Empire State Realty Trust Price Performance

NYSE ESRT traded up $0.26 during trading hours on Tuesday, reaching $11.13. 1,315,653 shares of the company’s stock were exchanged, compared to its average volume of 1,046,398. The stock has a market cap of $1.84 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 6.50 and a beta of 1.40. Empire State Realty Trust, Inc. has a one year low of $7.25 and a one year high of $11.20. The firm has a fifty day moving average of $9.50 and a 200-day moving average of $9.64. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.035 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.26%. Empire State Realty Trust’s payout ratio is 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.