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

Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 69.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166,317 shares of the real estate investment trust’s stock after buying an additional 478,477 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.69% of Empire State Realty Trust worth $7,604,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Empire State Realty Trust during the 3rd quarter worth $29,000. Raymond James Financial Inc. bought a new position in Empire State Realty Trust during the 2nd quarter worth $74,000. Abacus Wealth Partners LLC bought a new position in Empire State Realty Trust during the 3rd quarter worth $77,000. BNP Paribas Financial Markets grew its stake in Empire State Realty Trust by 50.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,752 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 3,941 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Empire State Realty Trust during the 3rd quarter worth $94,000. 67.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ESRT. Evercore set a $7.00 price objective on Empire State Realty Trust in a research note on Wednesday, February 18th. Weiss Ratings cut Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wells Fargo & Company decreased their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Citigroup decreased their price target on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Empire State Realty Trust presently has a consensus rating of “Sell” and an average price target of $6.25.

Empire State Realty Trust Trading Up 0.1%

Shares of NYSE ESRT opened at $5.74 on Tuesday. Empire State Realty Trust, Inc. has a 12 month low of $4.87 and a 12 month high of $8.76. The company has a market cap of $988.89 million, a price-to-earnings ratio of 22.06 and a beta of 1.35. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $6.07.

Empire State Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. Empire State Realty Trust’s dividend payout ratio is currently 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.