Schwab Charles Investment Management Inc. Has $7.26 Million Holdings in Empire State Realty Trust Inc (NYSE:ESRT)

Schwab Charles Investment Management Inc. lifted its holdings in Empire State Realty Trust Inc (NYSE:ESRT) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,501 shares of the real estate investment trust’s stock after buying an additional 30,677 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.22% of Empire State Realty Trust worth $7,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its holdings in shares of Empire State Realty Trust by 0.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,322,597 shares of the real estate investment trust’s stock worth $150,407,000 after purchasing an additional 20,312 shares during the period. BlackRock Inc. raised its holdings in Empire State Realty Trust by 3.3% during the 2nd quarter. BlackRock Inc. now owns 7,131,040 shares of the real estate investment trust’s stock valued at $148,111,000 after acquiring an additional 229,390 shares during the period. Resolution Capital Ltd raised its holdings in Empire State Realty Trust by 11.6% during the 3rd quarter. Resolution Capital Ltd now owns 6,051,122 shares of the real estate investment trust’s stock valued at $124,290,000 after acquiring an additional 628,944 shares during the period. Alliancebernstein L.P. raised its holdings in Empire State Realty Trust by 4.7% during the 2nd quarter. Alliancebernstein L.P. now owns 4,444,929 shares of the real estate investment trust’s stock valued at $92,321,000 after acquiring an additional 198,972 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Empire State Realty Trust by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,176 shares of the real estate investment trust’s stock valued at $47,759,000 after acquiring an additional 111,411 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In other news, Chairman Anthony E. Malkin sold 1,243,163 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $20.45, for a total transaction of $25,422,683.35. Following the completion of the sale, the chairman now directly owns 156,416 shares in the company, valued at $3,198,707.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.80% of the company’s stock.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $23.00 price target on shares of Empire State Realty Trust in a report on Wednesday, November 1st. TheStreet upgraded shares of Empire State Realty Trust from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Finally, Evercore ISI upgraded shares of Empire State Realty Trust from an “in” rating to a “line” rating and set a $23.00 target price for the company in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. Empire State Realty Trust presently has an average rating of “Hold” and an average target price of $22.50.

Shares of Empire State Realty Trust Inc (NYSE:ESRT) opened at $19.16 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.93 and a current ratio of 4.93. Empire State Realty Trust Inc has a 1 year low of $19.10 and a 1 year high of $21.98. The stock has a market cap of $3,060.00, a PE ratio of 47.90, a price-to-earnings-growth ratio of 4.71 and a beta of 0.98.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $122.39 million for the quarter, compared to analysts’ expectations of $122.22 million. Empire State Realty Trust had a net margin of 11.90% and a return on equity of 3.98%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. equities research analysts anticipate that Empire State Realty Trust Inc will post 0.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.105 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.19%. Empire State Realty Trust’s dividend payout ratio is currently 105.00%.

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Empire State Realty Trust 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.

Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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