Legal & General Group Plc Has $20.79 Million Stock Position in Empire State Realty Trust, Inc. $ESRT

Legal & General Group Plc reduced its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,569,713 shares of the real estate investment trust’s stock after selling 169,714 shares during the period. Legal & General Group Plc owned 1.53% of Empire State Realty Trust worth $20,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Empire State Realty Trust by 1.0% during the second quarter. JPMorgan Chase & Co. now owns 1,454,890 shares of the real estate investment trust’s stock worth $11,770,000 after buying an additional 14,895 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Empire State Realty Trust by 1.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 197,900 shares of the real estate investment trust’s stock worth $1,601,000 after acquiring an additional 3,358 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Empire State Realty Trust by 145.7% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 483,538 shares of the real estate investment trust’s stock valued at $3,912,000 after purchasing an additional 286,718 shares during the period. Westpac Banking Corp bought a new stake in Empire State Realty Trust in the second quarter valued at approximately $481,000. Finally, Creative Planning acquired a new stake in Empire State Realty Trust in the second quarter worth $376,000. Institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ESRT shares. Wells Fargo & Company decreased their price target on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday. Finally, Wall Street Zen upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.40.

Empire State Realty Trust Stock Performance

ESRT opened at $7.01 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 33.38 and a beta of 1.76. The business’s 50-day moving average price is $7.38 and its two-hundred day moving average price is $7.66. Empire State Realty Trust, Inc. has a 1 year low of $6.55 and a 1 year high of $11.43. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.03 and a quick ratio of 4.03.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.