Legal & General Group Plc Acquires 173,394 Shares of Empire State Realty Trust Inc (ESRT)

Legal & General Group Plc raised its holdings in shares of Empire State Realty Trust Inc (NYSE:ESRT) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,239,675 shares of the real estate investment trust’s stock after buying an additional 173,394 shares during the period. Legal & General Group Plc’s holdings in Empire State Realty Trust were worth $20,814,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Empire State Realty Trust by 3.9% during the fourth quarter. BlackRock Inc. now owns 8,307,553 shares of the real estate investment trust’s stock valued at $170,554,000 after purchasing an additional 309,414 shares during the period. Wells Fargo & Company MN raised its stake in shares of Empire State Realty Trust by 11.9% during the fourth quarter. Wells Fargo & Company MN now owns 181,280 shares of the real estate investment trust’s stock valued at $3,722,000 after purchasing an additional 19,333 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Empire State Realty Trust by 10.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 391,656 shares of the real estate investment trust’s stock valued at $8,041,000 after purchasing an additional 38,155 shares during the period. Chilton Capital Management LLC raised its stake in shares of Empire State Realty Trust by 11.0% during the fourth quarter. Chilton Capital Management LLC now owns 718,334 shares of the real estate investment trust’s stock valued at $14,747,000 after purchasing an additional 71,447 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Empire State Realty Trust by 8.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,964,600 shares of the real estate investment trust’s stock valued at $40,333,000 after purchasing an additional 146,300 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

ESRT opened at $17.03 on Tuesday. The company has a market cap of $2.83 billion, a PE ratio of 17.74, a PEG ratio of 4.94 and a beta of 0.93. Empire State Realty Trust Inc has a 52-week low of $15.94 and a 52-week high of $21.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 9.00 and a current ratio of 9.00.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). The company had revenue of $122.31 million during the quarter, compared to the consensus estimate of $122.72 million. Empire State Realty Trust had a return on equity of 3.94% and a net margin of 10.85%. equities research analysts predict that Empire State Realty Trust Inc will post 0.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were paid a $0.105 dividend. The ex-dividend date was Thursday, June 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.47%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 43.75%.

A number of analysts have recently issued reports on ESRT shares. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Wells Fargo & Co dropped their price objective on shares of Empire State Realty Trust from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday, March 23rd. ValuEngine lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Evercore ISI lowered shares of Empire State Realty Trust from an “outperform” rating to an “inline” rating in a research note on Monday, June 11th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.60.

In related news, major shareholder Quark Holding Llc purchased 284,015 shares of the company’s stock in a transaction that occurred on Thursday, May 31st. The stock was acquired at an average price of $16.72 per share, for a total transaction of $4,748,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.50% of the stock is currently owned by insiders.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE:ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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Institutional Ownership by Quarter for Empire State Realty Trust (NYSE:ESRT)

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