Lasalle Investment Management Securities LLC Has $47.11 Million Position in Empire State Realty Trust, Inc. $ESRT

Lasalle Investment Management Securities LLC raised its stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 64.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,058,860 shares of the real estate investment trust’s stock after purchasing an additional 3,534,376 shares during the period. Empire State Realty Trust accounts for about 1.9% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 21st biggest position. Lasalle Investment Management Securities LLC owned 0.05% of Empire State Realty Trust worth $47,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in Empire State Realty Trust by 58.2% during the third quarter. JPMorgan Chase & Co. now owns 2,301,395 shares of the real estate investment trust’s stock valued at $17,629,000 after purchasing an additional 846,505 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Empire State Realty Trust by 204.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,155,109 shares of the real estate investment trust’s stock valued at $20,571,000 after purchasing an additional 2,118,859 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in Empire State Realty Trust by 69.6% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,166,317 shares of the real estate investment trust’s stock valued at $7,604,000 after purchasing an additional 478,477 shares in the last quarter. Bessemer Group Inc. increased its position in Empire State Realty Trust by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock worth $3,703,000 after purchasing an additional 255,804 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in Empire State Realty Trust by 456.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust’s stock worth $72,557,000 after purchasing an additional 9,129,959 shares during the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $5.43 on Thursday. Empire State Realty Trust, Inc. has a fifty-two week low of $4.87 and a fifty-two week high of $8.07. The stock’s 50-day moving average is $5.48 and its two-hundred day moving average is $5.71. 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 firm has a market cap of $937.16 million, a P/E ratio of 20.90 and a beta of 1.35.

Empire State Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.6%. Empire State Realty Trust’s dividend payout ratio is currently 53.85%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ESRT. Weiss Ratings downgraded Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Evercore set a $6.00 price target on Empire State Realty Trust in a research note on Monday, June 8th. Citigroup dropped their price objective on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Finally, Wells Fargo & Company cut their price objective on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Sell” and a consensus target price of $5.92.

Empire State Realty Trust Profile

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.