Prudential Financial Inc. reduced its position in Empire State Realty Trust Inc. (NYSE:ESRT) by 44.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,823,343 shares of the real estate investment trust’s stock after selling 1,480,269 shares during the period. Prudential Financial Inc. owned about 1.47% of Empire State Realty Trust worth $34,625,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. TLP Group LLC bought a new position in shares of Empire State Realty Trust during the second quarter worth about $311,000. Dimensional Fund Advisors LP raised its stake in shares of Empire State Realty Trust by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,272,227 shares of the real estate investment trust’s stock valued at $24,159,000 after buying an additional 71,901 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Empire State Realty Trust by 62.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108,333 shares of the real estate investment trust’s stock valued at $2,057,000 after buying an additional 41,602 shares during the period. Investment Counselors of Maryland LLC raised its stake in shares of Empire State Realty Trust by 6.3% in the second quarter. Investment Counselors of Maryland LLC now owns 988,200 shares of the real estate investment trust’s stock valued at $18,766,000 after buying an additional 58,875 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Empire State Realty Trust by 11.1% in the second quarter. UBS Asset Management Americas Inc. now owns 188,488 shares of the real estate investment trust’s stock valued at $3,580,000 after buying an additional 18,859 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Empire State Realty Trust Inc. (NYSE:ESRT) traded down 0.34% on Tuesday, reaching $20.72. 333,335 shares of the company’s stock were exchanged. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 65.78 and a beta of 0.95. The stock’s 50 day moving average is $21.00 and its 200 day moving average is $19.23. Empire State Realty Trust Inc. has a 52 week low of $14.58 and a 52 week high of $22.31.

Empire State Realty Trust (NYSE:ESRT) last posted its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.02. Empire State Realty Trust had a return on equity of 4.73% and a net margin of 10.33%. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $116.59 million. During the same period in the prior year, the business posted $0.26 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Empire State Realty Trust Inc. will post $0.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 15th. Empire State Realty Trust’s dividend payout ratio is currently 131.25%.

Several equities research analysts have recently weighed in on ESRT shares. BTIG Research started coverage on shares of Empire State Realty Trust in a report on Thursday, August 25th. They issued a “buy” rating and a $24.00 target price on the stock. Zacks Investment Research upgraded shares of Empire State Realty Trust from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, May 26th. Finally, TheStreet upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Empire State Realty Trust presently has an average rating of “Buy” and an average price target of $20.60.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc is a real estate investment trust. The Company owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. The Company’s segments include Real Estate, Observatory and Other. The Real Estate segment includes the Company’s activities related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets.

5 Day Chart for NYSE:ESRT

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