Pioneer Investment Management Inc. cut its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 142,100 shares of the real estate investment trust’s stock after selling 1,700 shares during the period. Pioneer Investment Management Inc.’s holdings in Empire State Realty Trust were worth $2,951,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Empire State Realty Trust by 3,596.9% in the first quarter. BlackRock Inc. now owns 6,901,650 shares of the real estate investment trust’s stock valued at $142,448,000 after buying an additional 6,714,963 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Empire State Realty Trust by 8.1% in the first quarter. Vanguard Group Inc. now owns 22,461,415 shares of the real estate investment trust’s stock valued at $463,603,000 after buying an additional 1,676,832 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Empire State Realty Trust by 225.1% in the first quarter. Bank of New York Mellon Corp now owns 2,106,742 shares of the real estate investment trust’s stock valued at $43,484,000 after buying an additional 1,458,678 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Empire State Realty Trust by 19.5% in the second quarter. Daiwa Securities Group Inc. now owns 7,302,285 shares of the real estate investment trust’s stock valued at $151,669,000 after buying an additional 1,192,471 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Empire State Realty Trust by 26.1% in the first quarter. Alliancebernstein L.P. now owns 4,245,957 shares of the real estate investment trust’s stock valued at $87,637,000 after buying an additional 878,264 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Shares of Empire State Realty Trust, Inc. (NYSE:ESRT) opened at 20.63 on Tuesday. Empire State Realty Trust, Inc. has a 12-month low of $18.62 and a 12-month high of $22.31. The stock has a 50 day moving average price of $20.57 and a 200-day moving average price of $20.86. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 52.63 and a beta of 1.01.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $120.80 million during the quarter, compared to analyst estimates of $118.81 million. Empire State Realty Trust had a net margin of 11.67% and a return on equity of 3.85%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Equities analysts anticipate that Empire State Realty Trust, Inc. will post $0.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.42 annualized dividend and a yield of 2.04%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 107.70%.

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A number of brokerages have recently weighed in on ESRT. BMO Capital Markets set a $23.00 price target on Empire State Realty Trust and gave the stock a “buy” rating in a research report on Saturday, May 13th. BidaskClub raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Evercore ISI began coverage on Empire State Realty Trust in a report on Wednesday, May 31st. They issued an “in-line” rating and a $23.00 price objective for the company. Zacks Investment Research lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, TheStreet lowered Empire State Realty Trust from a “b” rating to a “c+” rating in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Empire State Realty Trust presently has a consensus rating of “Hold” and an average target price 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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