Empire State Realty Trust, Inc. $ESRT Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,801,381 shares of the real estate investment trust’s stock after selling 294,369 shares during the quarter. William Blair Investment Management LLC’s holdings in Empire State Realty Trust were worth $18,265,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its holdings in shares of Empire State Realty Trust by 10.7% during the third quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust’s stock worth $91,318,000 after purchasing an additional 1,153,446 shares during the period. Resolution Capital Ltd acquired a new stake in Empire State Realty Trust in the second quarter valued at $43,706,000. Principal Financial Group Inc. lifted its holdings in Empire State Realty Trust by 59.6% in the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock valued at $29,214,000 after acquiring an additional 1,424,066 shares during the period. Centersquare Investment Management LLC lifted its holdings in Empire State Realty Trust by 22.0% in the third quarter. Centersquare Investment Management LLC now owns 3,475,569 shares of the real estate investment trust’s stock valued at $26,623,000 after acquiring an additional 627,210 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Empire State Realty Trust by 204.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,155,109 shares of the real estate investment trust’s stock valued at $20,571,000 after acquiring an additional 2,118,859 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ESRT. Weiss Ratings downgraded Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Citigroup reduced their target price on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Evercore set a $7.00 target price on Empire State Realty Trust in a report on Wednesday, February 18th. Finally, Wells Fargo & Company reduced their target price on Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating for the company in a report on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $6.35.

Empire State Realty Trust Price Performance

Empire State Realty Trust stock opened at $5.58 on Tuesday. Empire State Realty Trust, Inc. has a one year low of $4.87 and a one year high of $8.76. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.94. The business has a fifty day moving average of $5.36 and a two-hundred day moving average of $6.12. The company has a market cap of $961.30 million, a P/E ratio of 21.44 and a beta of 1.35.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.035 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.5%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 53.85%.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.