Amalgamated Bank cut its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 11.0% during the first quarter, Holdings Channel reports. The firm owned 17,612 shares of the real estate investment trust’s stock after selling 2,169 shares during the period. Amalgamated Bank’s holdings in Empire State Realty Trust were worth $364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in shares of Empire State Realty Trust during the first quarter valued at approximately $122,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Empire State Realty Trust by 8.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,318 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 569 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of Empire State Realty Trust by 42.7% in the first quarter. First Mercantile Trust Co. now owns 10,830 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 3,240 shares during the last quarter. TLP Group LLC increased its position in shares of Empire State Realty Trust by 8,421.5% in the first quarter. TLP Group LLC now owns 11,504 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 11,369 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Empire State Realty Trust by 22.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,586 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 2,480 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Shares of Empire State Realty Trust, Inc. (ESRT) opened at 20.53 on Friday. The stock’s 50 day moving average is $20.96 and its 200 day moving average is $20.77. Empire State Realty Trust, Inc. has a 52-week low of $18.62 and a 52-week high of $22.31. The stock has a market cap of $3.24 billion, a PE ratio of 54.31 and a beta of 1.01.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $164.95 million during the quarter, compared to analyst estimates of $118.20 million. Empire State Realty Trust had a net margin of 11.02% and a return on equity of 3.88%. Empire State Realty Trust’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts forecast that Empire State Realty Trust, Inc. will post $0.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 13th. Empire State Realty Trust’s payout ratio is 110.53%.

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Several analysts have recently weighed in on the stock. TheStreet cut shares of Empire State Realty Trust from a “b” rating to a “c+” rating in a research report on Friday, May 19th. Evercore ISI assumed coverage on shares of Empire State Realty Trust in a research report on Wednesday, May 31st. They set an “in-line” rating and a $23.00 price objective on the stock. BMO Capital Markets set a $23.00 price objective on shares of Empire State Realty Trust and gave the company a “buy” rating in a research report on Wednesday, May 31st. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $21.00 price objective on shares of Empire State Realty Trust in a research report on Thursday, June 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Empire State Realty Trust currently has an average rating of “Hold” and an average price target of $22.20.

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

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

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