O Shaughnessy Asset Management LLC Sells 49,099 Shares of Empire State Realty Trust, Inc. (NYSE:ESRT)

O Shaughnessy Asset Management LLC lowered its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 19.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 208,900 shares of the real estate investment trust’s stock after selling 49,099 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Empire State Realty Trust were worth $2,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Empire State Realty Trust during the third quarter valued at $25,000. Versor Investments LP bought a new position in shares of Empire State Realty Trust during the fourth quarter valued at $105,000. Quadrature Capital Ltd purchased a new position in shares of Empire State Realty Trust in the 3rd quarter worth about $115,000. Inspire Advisors LLC purchased a new position in shares of Empire State Realty Trust in the 4th quarter worth about $125,000. Finally, Cibc World Markets Corp bought a new position in Empire State Realty Trust in the 4th quarter worth about $132,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 11,843 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.02, for a total value of $94,980.86. Following the transaction, the executive vice president now owns 44,185 shares in the company, valued at $354,363.70. This represents a 21.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,122 shares of company stock worth $242,761 in the last ninety days. Insiders own 14.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wolfe Research raised shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Tuesday, March 25th. StockNews.com upgraded shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $7.23 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 25.80 and a beta of 1.39. The business has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $9.96. Empire State Realty Trust, Inc. has a fifty-two week low of $6.95 and a fifty-two week high of $11.62.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.19. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The firm had revenue of $155.13 million during the quarter, compared to analysts’ expectations of $192.62 million. On average, analysts expect that Empire State Realty Trust, Inc. will post 0.88 earnings per share for the current year.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.94%. Empire State Realty Trust’s payout ratio is 50.00%.

About Empire State Realty Trust

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.