Sumitomo Mitsui Trust Group Inc. Buys 881,649 Shares of Empire State Realty Trust, Inc. $ESRT

Sumitomo Mitsui Trust Group Inc. boosted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,787,585 shares of the real estate investment trust’s stock after buying an additional 881,649 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Empire State Realty Trust were worth $31,384,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. purchased a new position in shares of Empire State Realty Trust during the 3rd quarter valued at $74,000. Interchange Capital Partners LLC purchased a new stake in shares of Empire State Realty Trust during the third quarter worth $40,000. Signaturefd LLC raised its holdings in shares of Empire State Realty Trust by 2,541.2% during the third quarter. Signaturefd LLC now owns 44,082 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 42,413 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Empire State Realty Trust by 646.0% during the third quarter. Evergreen Capital Management LLC now owns 135,632 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 117,450 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Empire State Realty Trust by 24.3% during the third quarter. Inspire Investing LLC now owns 156,577 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 30,654 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 $5.32 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $920.19 million, a price-to-earnings ratio of 132.91 and a beta of 1.41. Empire State Realty Trust, Inc. has a 12 month low of $3.93 and a 12 month high of $7.53. The firm has a 50 day moving average of $4.53 and a two-hundred day moving average of $5.28.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.20 EPS for the quarter. The company had revenue of $193.05 million for the quarter. Empire State Realty Trust had a net margin of 0.30% and a return on equity of 0.13%. As a group, equities analysts anticipate that Empire State Realty Trust, Inc. will post 0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESRT has been the subject of a number of research reports. Citigroup reduced their price objective on Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Wells Fargo & Company dropped their target price on Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 1st. Evercore set a $5.00 price target on Empire State Realty Trust in a research note on Monday, September 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Empire State Realty Trust in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Sell” and a consensus price target of $5.00.

About Empire State Realty Trust

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.