Wells Fargo & Company MN decreased its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 34.1% during the first quarter, Holdings Channel reports. The firm owned 130,574 shares of the real estate investment trust’s stock after selling 67,441 shares during the period. Wells Fargo & Company MN’s holdings in Empire State Realty Trust were worth $2,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Empire State Realty Trust during the fourth quarter worth $26,057,000. Pensionfund Sabic increased its stake in Empire State Realty Trust by 8.3% in the first quarter. Pensionfund Sabic now owns 26,000 shares of the real estate investment trust’s stock worth $537,000 after buying an additional 2,000 shares during the last quarter. AQR Capital Management LLC increased its stake in Empire State Realty Trust by 8.3% in the fourth quarter. AQR Capital Management LLC now owns 63,688 shares of the real estate investment trust’s stock worth $1,286,000 after buying an additional 4,870 shares during the last quarter. State Street Corp increased its stake in Empire State Realty Trust by 9.2% in the fourth quarter. State Street Corp now owns 1,767,857 shares of the real estate investment trust’s stock worth $35,690,000 after buying an additional 148,815 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Empire State Realty Trust by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,699,374 shares of the real estate investment trust’s stock worth $34,309,000 after buying an additional 263,336 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) opened at 21.20 on Tuesday. The firm’s 50-day moving average is $20.94 and its 200-day moving average is $20.72. The company has a market cap of $3.35 billion, a PE ratio of 56.08 and a beta of 1.01. Empire State Realty Trust, Inc. has a 12 month low of $18.31 and a 12 month high of $22.31.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Empire State Realty Trust had a net margin of 11.02% and a return on equity of 3.88%. The firm had revenue of $164.95 million for the quarter, compared to analysts’ expectations of $118.20 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Empire State Realty Trust, Inc. will post $0.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Tuesday, June 13th. Empire State Realty Trust’s dividend payout ratio is currently 110.53%.

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A number of analysts recently weighed in on the company. BMO Capital Markets set a $23.00 price objective on Empire State Realty Trust and gave the company a “buy” rating in a report on Saturday, May 13th. TheStreet downgraded Empire State Realty Trust from a “b” rating to a “c+” rating in a report on Thursday, March 23rd. Zacks Investment Research upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, February 27th. Finally, Evercore ISI assumed coverage on Empire State Realty Trust in a report on Wednesday, May 31st. They issued an “in-line” rating and a $23.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Empire State Realty Trust presently has a consensus rating of “Hold” and an average target price of $22.50.

About Empire State Realty Trust

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, including the Empire State Building. The Company operates through two segments: Real Estate and Observatory.

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