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

Benin Management CORP trimmed its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,600 shares of the real estate investment trust’s stock after selling 2,700 shares during the period. Benin Management CORP’s holdings in Empire State Realty Trust were worth $328,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Empire State Realty Trust by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 38,808 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 1,083 shares during the last quarter. Van ECK Associates Corp boosted its stake in Empire State Realty Trust by 5.4% during the second quarter. Van ECK Associates Corp now owns 23,718 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 1,221 shares during the last quarter. Federated Hermes Inc. grew its holdings in Empire State Realty Trust by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 343,637 shares of the real estate investment trust’s stock valued at $3,223,000 after buying an additional 1,428 shares in the last quarter. ProShare Advisors LLC grew its holdings in Empire State Realty Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 23,747 shares of the real estate investment trust’s stock valued at $241,000 after buying an additional 1,868 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Empire State Realty Trust by 4.0% in the 2nd quarter. Sei Investments Co. now owns 49,131 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 1,882 shares during the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Trading Down 2.2 %

ESRT traded down $0.25 during trading on Monday, hitting $11.16. 223,809 shares of the stock were exchanged, compared to its average volume of 1,116,966. Empire State Realty Trust, Inc. has a 1 year low of $7.34 and a 1 year high of $11.62. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 38.03 and a beta of 1.40. The firm has a 50 day simple moving average of $10.71 and a 200 day simple moving average of $10.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.24 and a current ratio of 3.24.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). The business had revenue of $189.54 million during the quarter. Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. During the same period last year, the business earned $0.26 earnings per share. As a group, equities analysts expect that Empire State Realty Trust, Inc. will post 0.92 EPS for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, September 16th. Empire State Realty Trust’s payout ratio is currently 46.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company increased their price target on Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets lifted their price target on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th.

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.