Empire State Realty Trust, Inc. $ESRT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Empire State Realty Trust, Inc. (NYSE:ESRT) by 55.5% in the first quarter, HoldingsChannel reports. The firm owned 4,905,653 shares of the real estate investment trust’s stock after purchasing an additional 1,750,544 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Empire State Realty Trust were worth $25,509,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Empire State Realty Trust during the 2nd quarter worth approximately $74,000. DRW Securities LLC purchased a new position in shares of Empire State Realty Trust during the 4th quarter valued at approximately $69,000. Vise Technologies Inc. purchased a new position in shares of Empire State Realty Trust during the 4th quarter valued at approximately $71,000. Federation des caisses Desjardins du Quebec grew its position in shares of Empire State Realty Trust by 29.1% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 2,523 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Empire State Realty Trust by 50.5% during the second 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 in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

ESRT stock opened at $5.55 on Tuesday. 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 firm has a market cap of $957.85 million, a P/E ratio of 21.37 and a beta of 1.35. Empire State Realty Trust, Inc. has a 12-month low of $4.87 and a 12-month high of $8.27. The stock’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $5.75.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.035 per share. The ex-dividend date was Monday, June 15th. This represents a $0.14 annualized dividend and a yield of 2.5%. Empire State Realty Trust’s payout ratio is presently 53.85%.

Analysts Set New Price Targets

ESRT has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating for the company in a research note on Monday, June 1st. Evercore set a $6.00 price objective on shares of Empire State Realty Trust in a report on Monday, June 8th. Weiss Ratings downgraded shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Citigroup cut their target price on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock 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.com, Empire State Realty Trust has an average rating of “Sell” and an average target price of $5.92.

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.