Lasalle Investment Management Securities LLC Invests $11.62 Million in Empire State Realty Trust, Inc. $ESRT

Lasalle Investment Management Securities LLC acquired a new position in Empire State Realty Trust, Inc. (NYSE:ESRT) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,517,295 shares of the real estate investment trust’s stock, valued at approximately $11,622,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Empire State Realty Trust in the third quarter valued at approximately $29,000. Simplex Trading LLC grew its holdings in Empire State Realty Trust by 869.5% in the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,408 shares in the last quarter. CWM LLC grew its holdings in Empire State Realty Trust by 1,704.7% in the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,671 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Empire State Realty Trust in the 2nd quarter valued at approximately $74,000. Finally, Abacus Wealth Partners LLC bought a new stake in Empire State Realty Trust during the 3rd quarter valued at $77,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESRT has been the subject of several recent analyst reports. Evercore set a $7.00 price target on Empire State Realty Trust in a research note on Wednesday, February 18th. Wells Fargo & Company decreased their target price on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday, December 29th. Finally, Citigroup dropped their price target on shares of Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Empire State Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $7.70.

Empire State Realty Trust Stock Down 2.4%

ESRT stock opened at $5.91 on Friday. The firm has a market cap of $1.00 billion, a PE ratio of 22.71 and a beta of 1.36. Empire State Realty Trust, Inc. has a 12 month low of $5.86 and a 12 month high of $9.29. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. The firm has a 50 day simple moving average of $6.44 and a 200 day simple moving average of $7.04.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.14 annualized dividend and a dividend yield of 2.4%. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 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.