Empire State Realty Trust, Inc. $ESRT Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 21.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,242,073 shares of the real estate investment trust’s stock after buying an additional 571,083 shares during the period. Legal & General Group Plc’s holdings in Empire State Realty Trust were worth $21,138,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ESRT. M&T Bank Corp raised its position in shares of Empire State Realty Trust by 11.7% in the second quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,360 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Empire State Realty Trust by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock worth $574,000 after acquiring an additional 1,418 shares during the period. Amundi grew its stake in Empire State Realty Trust by 2.0% in the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 1,562 shares during the period. Van ECK Associates Corp raised its holdings in Empire State Realty Trust by 4.4% in the 3rd quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 1,707 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Empire State Realty Trust by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 1,896 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on ESRT. Weiss Ratings downgraded Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wells Fargo & Company reduced their target price on Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating on the stock in a research report on Monday, March 2nd. Citigroup lowered their price target on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, Evercore set a $7.00 price objective on shares of Empire State Realty Trust in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Sell” and an average target price of $6.35.

Empire State Realty Trust Trading Up 0.2%

Shares of ESRT opened at $5.74 on Monday. Empire State Realty Trust, Inc. has a twelve month low of $4.87 and a twelve month high of $8.76. The firm has a market capitalization of $990.09 million, a P/E ratio of 22.09 and a beta of 1.35. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $6.08.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, June 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is 53.85%.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc is a publicly traded real estate investment trust (REIT) focused on the ownership, management and operation of office and retail properties. The company’s portfolio features the iconic Empire State Building in Midtown Manhattan, alongside a diversified collection of commercial assets situated throughout Manhattan, Brooklyn and select markets in Upstate New York. By offering premium office space and street-level retail, Empire State Realty Trust positions itself as a landlord of choice for corporate tenants, retailers and experiential brands seeking high-profile addresses.

Established through a spin-off of assets in early 2013, Empire State Realty Trust consolidated a mix of landmark and Class A properties, creating scale in one of the world’s most competitive real estate markets.