Monument Capital Management Trims Stake in Empire State Realty Trust, Inc. (NYSE:ESRT)

Monument Capital Management lowered its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 3.0% during the 4th quarter, HoldingsChannel reports. The fund owned 48,608 shares of the real estate investment trust’s stock after selling 1,516 shares during the period. Monument Capital Management’s holdings in Empire State Realty Trust were worth $471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. purchased a new position in Empire State Realty Trust in the 3rd quarter worth about $59,000. Spirit of America Management Corp NY purchased a new position in Empire State Realty Trust in the 4th quarter worth about $87,000. QRG Capital Management Inc. purchased a new position in Empire State Realty Trust in the 3rd quarter worth about $109,000. New York State Teachers Retirement System purchased a new position in Empire State Realty Trust in the 4th quarter worth about $115,000. Finally, Mackenzie Financial Corp purchased a new position in Empire State Realty Trust in the 3rd quarter worth about $131,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 1.9 %

Shares of Empire State Realty Trust stock opened at $9.32 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 7.04 and a quick ratio of 7.04. Empire State Realty Trust, Inc. has a 1 year low of $5.43 and a 1 year high of $10.32. The firm’s 50-day moving average is $9.71 and its two-hundred day moving average is $9.34. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.32 and a beta of 1.30.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, March 14th. Empire State Realty Trust’s payout ratio is 45.16%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Empire State Realty Trust has an average rating of “Hold” and a consensus price target of $8.33.

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.