Cbre Investment Management Listed Real Assets LLC Sells 658,306 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

Cbre Investment Management Listed Real Assets LLC reduced its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 25.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,943,258 shares of the real estate investment trust’s stock after selling 658,306 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Empire State Realty Trust were worth $20,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versor Investments LP bought a new stake in Empire State Realty Trust in the fourth quarter valued at $105,000. Bank of New York Mellon Corp lifted its stake in shares of Empire State Realty Trust by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 702,961 shares of the real estate investment trust’s stock valued at $7,255,000 after acquiring an additional 5,395 shares during the period. Delta Financial Group Inc. acquired a new position in shares of Empire State Realty Trust during the fourth quarter valued at $150,000. Wolverine Asset Management LLC lifted its stake in shares of Empire State Realty Trust by 143.8% during the fourth quarter. Wolverine Asset Management LLC now owns 262,689 shares of the real estate investment trust’s stock valued at $2,711,000 after acquiring an additional 154,920 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Empire State Realty Trust by 16.7% during the fourth quarter. Handelsbanken Fonder AB now owns 72,518 shares of the real estate investment trust’s stock valued at $748,000 after acquiring an additional 10,400 shares during the period. 67.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ESRT shares. StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday. BMO Capital Markets raised their price target on 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.

Empire State Realty Trust Stock Down 4.1 %

NYSE:ESRT opened at $8.56 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market cap of $1.43 billion, a PE ratio of 30.55 and a beta of 1.40. Empire State Realty Trust, Inc. has a 52-week low of $8.53 and a 52-week high of $11.62. The stock has a 50-day simple moving average of $9.54 and a 200 day simple moving average of $10.36.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.19. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. The firm had revenue of $155.13 million during the quarter, compared to the consensus estimate of $192.62 million. On average, sell-side analysts expect that Empire State Realty Trust, Inc. will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, March 14th. This represents a $0.14 annualized dividend and a yield of 1.64%. Empire State Realty Trust’s payout ratio is currently 50.00%.

Insider Buying and Selling

In related news, EVP Thomas P. Durels sold 10,000 shares of Empire State Realty Trust stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the sale, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This trade represents a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.95% of the stock is currently owned by insiders.

About Empire State Realty Trust

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.