Empire State Realty Trust, Inc. $ESRT Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 56.1% during the 1st quarter, Holdings Channel reports. The fund owned 712,061 shares of the real estate investment trust’s stock after acquiring an additional 255,804 shares during the quarter. Bessemer Group Inc.’s holdings in Empire State Realty Trust were worth $3,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ESRT. Ameriprise Financial Inc. raised its holdings in shares of Empire State Realty Trust by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust’s stock valued at $91,318,000 after purchasing an additional 1,153,446 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Empire State Realty Trust by 456.9% during the fourth 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 in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in Empire State Realty Trust by 264.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 5,524,484 shares of the real estate investment trust’s stock valued at $36,020,000 after buying an additional 4,007,189 shares during the last quarter. Resolution Capital Ltd purchased a new position in Empire State Realty Trust in the second quarter valued at $43,706,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Empire State Realty Trust by 55.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,905,653 shares of the real estate investment trust’s stock valued at $25,509,000 after buying an additional 1,750,544 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Trading Down 1.1%

NYSE:ESRT opened at $5.54 on Wednesday. The company has a market capitalization of $954.92 million, a PE ratio of 21.30 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 $8.07. The stock’s 50 day moving average price is $5.48 and its 200 day moving average price is $5.72. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.035 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.14 annualized dividend and a yield of 2.5%. Empire State Realty Trust’s dividend payout ratio is 53.85%.

Analyst Ratings Changes

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

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.