Benin Management CORP Decreases Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Benin Management CORP decreased its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,300 shares of the real estate investment trust’s stock after selling 2,300 shares during the quarter. Benin Management CORP’s holdings in Empire State Realty Trust were worth $282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Empire State Realty Trust in the 3rd quarter valued at about $25,000. Signaturefd LLC boosted its holdings in shares of Empire State Realty Trust by 81.6% in the third quarter. Signaturefd LLC now owns 3,391 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,524 shares during the period. Loomis Sayles & Co. L P grew its stake in Empire State Realty Trust by 3,139.1% in the third quarter. Loomis Sayles & Co. L P now owns 4,470 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 4,332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Empire State Realty Trust by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,412 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,419 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Empire State Realty Trust during the 3rd quarter valued at $115,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESRT. StockNews.com downgraded Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets upped their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Insider Buying and Selling at Empire State Realty Trust

In related news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total value of $101,000.00. Following the completion of the transaction, the executive vice president now owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This represents a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.95% of the stock is owned by corporate insiders.

Empire State Realty Trust Price Performance

Shares of ESRT opened at $9.61 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of 35.58 and a beta of 1.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The company’s fifty day moving average price is $10.41 and its 200-day moving average price is $10.58. Empire State Realty Trust, Inc. has a 1-year low of $8.78 and a 1-year high of $11.62.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.035 per share. The ex-dividend date was Monday, December 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.46%. Empire State Realty Trust’s dividend payout ratio is presently 51.85%.

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.