Empire State Realty Trust, Inc. $ESRT Shares Bought by Cohen & Steers Inc.

Cohen & Steers Inc. lifted its holdings in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 456.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,128,303 shares of the real estate investment trust’s stock after purchasing an additional 9,129,959 shares during the quarter. Cohen & Steers Inc. owned about 6.54% of Empire State Realty Trust worth $72,557,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Empire State Realty Trust during the third quarter worth about $29,000. Raymond James Financial Inc. acquired a new stake in shares of Empire State Realty Trust during the second quarter worth about $74,000. Abacus Wealth Partners LLC acquired a new stake in shares of Empire State Realty Trust during the third quarter worth about $77,000. DRW Securities LLC acquired a new stake in shares of Empire State Realty Trust during the fourth quarter worth about $69,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Empire State Realty Trust during the fourth quarter worth about $71,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

ESRT has been the topic of several research reports. Citigroup reduced their price target on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Evercore set a $6.00 price target on shares of Empire State Realty Trust in a research report on Monday. Weiss Ratings lowered shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company cut their target price on shares of Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $5.92.

Empire State Realty Trust Stock Performance

Shares of Empire State Realty Trust stock opened at $5.45 on Friday. The firm has a market capitalization of $938.88 million, a P/E ratio of 20.94 and a beta of 1.35. Empire State Realty Trust, Inc. has a 52 week low of $4.87 and a 52 week high of $8.76. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $5.49 and its two-hundred day moving average is $5.98.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. Empire State Realty Trust’s dividend payout ratio is presently 53.85%.

Empire State Realty Trust Company 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.