Empire State Realty Trust, Inc. $ESRT Stake Raised by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC increased its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 69.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,166,317 shares of the real estate investment trust’s stock after acquiring an additional 478,477 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Empire State Realty Trust were worth $7,604,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. M&T Bank Corp lifted its stake in Empire State Realty Trust by 11.7% in the 2nd quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 1,360 shares in the last quarter. The Manufacturers Life Insurance Company lifted 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 in the last quarter. Amundi lifted 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 in the last quarter. Van ECK Associates Corp increased its position 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 worth $308,000 after purchasing an additional 1,707 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Empire State Realty Trust by 3.0% in 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 last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESRT has been the topic of several research reports. Wells Fargo & Company dropped their target price on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research report on Monday. Weiss Ratings lowered Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Citigroup dropped their target price on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Finally, Evercore set a $7.00 target price on Empire State Realty Trust in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus target price of $6.25.

Empire State Realty Trust Stock Performance

ESRT opened at $5.74 on Tuesday. The firm has a market capitalization of $988.89 million, a P/E ratio of 22.06 and a beta of 1.35. The stock’s 50 day moving average price is $5.41 and its two-hundred day moving average price is $6.07. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. Empire State Realty Trust, Inc. has a 12-month low of $4.87 and a 12-month high of $8.76.

Empire State Realty Trust Dividend Announcement

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

About Empire State Realty Trust

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.