Prudential Financial Inc. Sells 8,046 Shares of Empire State Realty (ESRT)

Prudential Financial Inc. cut its stake in Empire State Realty (NYSE:ESRT) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,745,889 shares of the real estate investment trust’s stock after selling 8,046 shares during the quarter. Prudential Financial Inc.’s holdings in Empire State Realty were worth $29,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of Empire State Realty by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 216,445 shares of the real estate investment trust’s stock valued at $4,444,000 after purchasing an additional 3,585 shares in the last quarter. Aperio Group LLC grew its position in shares of Empire State Realty by 21.6% in the fourth quarter. Aperio Group LLC now owns 26,973 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 4,784 shares in the last quarter. Jefferies Group LLC grew its position in shares of Empire State Realty by 13.5% in the fourth quarter. Jefferies Group LLC now owns 42,317 shares of the real estate investment trust’s stock valued at $869,000 after purchasing an additional 5,045 shares in the last quarter. Strs Ohio grew its position in shares of Empire State Realty by 4.6% in the fourth quarter. Strs Ohio now owns 167,567 shares of the real estate investment trust’s stock valued at $3,440,000 after purchasing an additional 7,368 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Empire State Realty by 5.0% in the fourth quarter. California Public Employees Retirement System now owns 167,184 shares of the real estate investment trust’s stock valued at $3,432,000 after purchasing an additional 7,898 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

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Shares of ESRT stock opened at $16.29 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 9.00 and a quick ratio of 9.00. Empire State Realty has a 12-month low of $16.41 and a 12-month high of $16.64. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 4.74 and a beta of 0.95.

Empire State Realty (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.13). Empire State Realty had a return on equity of 3.94% and a net margin of 10.85%. The firm had revenue of $122.31 million for the quarter, compared to the consensus estimate of $122.72 million. equities research analysts anticipate that Empire State Realty will post 0.88 earnings per share for the current fiscal year.

Several equities analysts recently commented on the company. Wells Fargo reduced their target price on Empire State Realty from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, March 23rd. Zacks Investment Research cut Empire State Realty from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. BMO Capital Markets set a $20.00 target price on Empire State Realty and gave the stock a “buy” rating in a research report on Tuesday, February 27th. ValuEngine cut Empire State Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Stifel Nicolaus reduced their target price on Empire State Realty from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.67.

Empire State Realty Profile

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), 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 world's most famous building.

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