Centersquare Investment Management LLC Buys 627,210 Shares of Empire State Realty Trust, Inc. $ESRT

Centersquare Investment Management LLC boosted its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 22.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,475,569 shares of the real estate investment trust’s stock after buying an additional 627,210 shares during the quarter. Centersquare Investment Management LLC owned approximately 2.05% of Empire State Realty Trust worth $26,623,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Empire State Realty Trust by 11.0% during the second quarter. Ameriprise Financial Inc. now owns 10,780,699 shares of the real estate investment trust’s stock worth $87,172,000 after purchasing an additional 1,068,865 shares during the last quarter. Resolution Capital Ltd acquired a new position in shares of Empire State Realty Trust in the 2nd quarter valued at $43,706,000. Principal Financial Group Inc. lifted its stake in Empire State Realty Trust by 59.6% in 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 buying an additional 1,424,066 shares during the period. Geode Capital Management LLC boosted its stake in Empire State Realty Trust by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,550,460 shares of the real estate investment trust’s stock worth $28,727,000 after acquiring an additional 79,525 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Empire State Realty Trust by 137.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust’s stock worth $24,284,000 after purchasing an additional 1,798,850 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ESRT shares. Citigroup decreased their price objective on Empire State Realty Trust from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday, December 29th. Wells Fargo & Company lowered their target price on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating on the stock in a report on Tuesday, November 25th. Finally, Evercore set a $7.00 price target on shares of Empire State Realty Trust in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.70.

Empire State Realty Trust Stock Up 2.6%

Empire State Realty Trust stock opened at $6.10 on Thursday. The company’s 50-day moving average price is $6.46 and its two-hundred day moving average price is $7.06. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.04 billion, a P/E ratio of 23.44 and a beta of 1.36. Empire State Realty Trust, Inc. has a twelve month low of $5.88 and a twelve month high of $9.29.

Empire State Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, March 13th. This represents a $0.14 annualized dividend and a yield of 2.3%. Empire State Realty Trust’s dividend payout ratio (DPR) 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.