Benin Management CORP Trims Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Benin Management CORP trimmed its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,300 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Benin Management CORP’s holdings in Empire State Realty Trust were worth $282,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Inspire Investing LLC lifted its holdings in Empire State Realty Trust by 22.3% during the 4th quarter. Inspire Investing LLC now owns 45,771 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 8,346 shares in the last quarter. SG Americas Securities LLC increased its holdings in Empire State Realty Trust by 46.4% during the 4th quarter. SG Americas Securities LLC now owns 39,636 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 12,553 shares during the period. Ballentine Partners LLC raised its position in Empire State Realty Trust by 22.8% in the 4th quarter. Ballentine Partners LLC now owns 14,349 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,668 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Empire State Realty Trust by 5.8% in the 4th quarter. Nordea Investment Management AB now owns 727,158 shares of the real estate investment trust’s stock valued at $7,482,000 after buying an additional 40,042 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Empire State Realty Trust by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock worth $17,905,000 after buying an additional 98,850 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Price Performance

ESRT stock opened at $9.61 on Friday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 35.58 and a beta of 1.41. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average of $10.41 and a 200-day moving average of $10.58. Empire State Realty Trust, Inc. has a 12-month low of $8.78 and a 12-month high of $11.62.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.46%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 51.85%.

Analysts Set New Price Targets

ESRT has been the topic of a number of analyst reports. StockNews.com lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets lifted their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

Insider Activity

In related news, EVP Thomas P. Durels sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.10, for a total transaction of $101,000.00. Following the completion of the sale, the executive vice president now owns 86,807 shares of the company’s stock, valued at approximately $876,750.70. This represents a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.95% of the company’s stock.

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.