SummitTX Capital L.P. Has $7.46 Million Stake in Empire State Realty Trust, Inc. $ESRT

SummitTX Capital L.P. increased its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 11.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,434,267 shares of the real estate investment trust’s stock after purchasing an additional 146,070 shares during the period. SummitTX Capital L.P.’s holdings in Empire State Realty Trust were worth $7,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in Empire State Realty Trust in the 1st quarter worth approximately $60,000. DRW Securities LLC bought a new stake in shares of Empire State Realty Trust in the fourth quarter valued at approximately $69,000. Vise Technologies Inc. bought a new stake in shares of Empire State Realty Trust in the fourth quarter valued at approximately $71,000. Federation des caisses Desjardins du Quebec grew its stake in shares of Empire State Realty Trust by 29.1% in 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 acquiring an additional 2,523 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Empire State Realty Trust in the second quarter worth $74,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Trading Up 0.1%

Shares of Empire State Realty Trust stock opened at $5.67 on Monday. Empire State Realty Trust, Inc. has a 52-week low of $4.87 and a 52-week high of $8.07. The firm has a market capitalization of $977.33 million, a PE ratio of 21.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.94 and a quick ratio of 1.94. The company’s fifty day moving average price is $5.49 and its two-hundred day moving average price is $5.70.

Empire State Realty Trust Dividend Announcement

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

Wall Street Analyst Weigh In

ESRT has been the subject of several research analyst reports. Citigroup cut their target price on shares of 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. Evercore set a $6.00 price objective on shares of Empire State Realty Trust in a research report on Monday, June 8th. Wells Fargo & Company reduced their target price 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. Finally, Weiss Ratings lowered Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus 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.