Sumitomo Mitsui Trust Group Inc. Raises Holdings in Empire State Realty Trust, Inc. $ESRT

Sumitomo Mitsui Trust Group Inc. raised its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 596.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,036,250 shares of the real estate investment trust’s stock after purchasing an additional 887,375 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Empire State Realty Trust were worth $7,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Empire State Realty Trust by 1,704.7% in the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 7,671 shares during the last quarter. Simplex Trading LLC grew its stake in Empire State Realty Trust by 869.5% during the 2nd quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 7,408 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Empire State Realty Trust in the 2nd quarter valued at about $74,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Empire State Realty Trust in the 2nd quarter valued at about $85,000. Finally, Wealthstream Advisors Inc. purchased a new position in Empire State Realty Trust in the 2nd quarter worth approximately $94,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ESRT. Wells Fargo & Company dropped their price target on 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.40.

Empire State Realty Trust Stock Performance

Empire State Realty Trust stock opened at $6.59 on Friday. The firm has a 50 day simple moving average of $6.75 and a 200-day simple moving average of $7.31. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 31.36 and a beta of 1.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. Empire State Realty Trust, Inc. has a 1-year low of $6.09 and a 1-year high of $9.88.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.14 annualized dividend and a yield of 2.1%. Empire State Realty Trust’s dividend payout ratio (DPR) is 66.67%.

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.