Lasalle Investment Management Securities LLC Purchases 4,007,189 Shares of Empire State Realty Trust, Inc. $ESRT

Lasalle Investment Management Securities LLC raised its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 264.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,524,484 shares of the real estate investment trust’s stock after acquiring an additional 4,007,189 shares during the period. Empire State Realty Trust makes up 1.4% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 27th biggest holding. Lasalle Investment Management Securities LLC owned approximately 3.25% of Empire State Realty Trust worth $36,020,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Empire State Realty Trust by 59.6% during the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock valued at $29,214,000 after acquiring an additional 1,424,066 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Empire State Realty Trust by 58.2% in 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 buying an additional 846,505 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of 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 buying an additional 2,118,859 shares during the period. Land & Buildings Investment Management LLC bought a new stake in shares of Empire State Realty Trust in the third quarter valued at about $7,772,000. Finally, Centersquare Investment Management LLC lifted its stake in shares of Empire State Realty Trust by 22.0% in the third quarter. Centersquare Investment Management LLC now owns 3,475,569 shares of the real estate investment trust’s stock valued at $26,623,000 after buying an additional 627,210 shares during the period. 67.10% of the stock is currently owned by institutional investors.

Empire State Realty Trust Stock Performance

NYSE:ESRT opened at $5.74 on Monday. Empire State Realty Trust, Inc. has a 12-month low of $4.87 and a 12-month 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 has a market capitalization of $990.09 million, a PE ratio of 22.09 and a beta of 1.35. The firm has a 50-day moving average price of $5.40 and a 200 day moving average price of $6.08.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. Empire State Realty Trust’s dividend payout ratio is 53.85%.

Analyst Ratings Changes

Several research firms recently weighed in on ESRT. Wells Fargo & Company reduced their target price on shares of Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating for the company in a research note on Monday, March 2nd. Citigroup reduced 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. Weiss Ratings cut 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, Evercore set a $7.00 target price on shares of Empire State Realty Trust in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Sell” and a consensus price target of $6.35.

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.