BROOKFIELD Corp ON Invests $2.66 Million in Empire State Realty Trust, Inc. $ESRT

BROOKFIELD Corp ON acquired a new stake in Empire State Realty Trust, Inc. (NYSE:ESRT) during the 1st quarter, Holdings Channel.com reports. The firm acquired 511,906 shares of the real estate investment trust’s stock, valued at approximately $2,662,000.

Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in Empire State Realty Trust during the 1st quarter worth about $60,000. DRW Securities LLC purchased a new position in Empire State Realty Trust in the 4th quarter valued at about $69,000. Vise Technologies Inc. acquired a new stake in shares of Empire State Realty Trust during the 4th quarter worth about $71,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of Empire State Realty Trust by 29.1% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 11,180 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Empire State Realty Trust during the second quarter worth about $74,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

NYSE ESRT opened at $5.67 on Monday. The firm has a market capitalization of $977.33 million, a P/E ratio of 21.80 and a beta of 1.35. Empire State Realty Trust, Inc. has a 1-year low of $4.87 and a 1-year high of $8.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.94 and a quick ratio of 1.94. The business’s 50-day simple moving average is $5.49 and its 200-day simple moving average is $5.70.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued 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 (DPR) is presently 53.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore set a $6.00 price objective on shares of Empire State Realty Trust in a research note on Monday, June 8th. Weiss Ratings lowered Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Citigroup lowered their price objective on Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company decreased 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 report 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 stock has a consensus rating of “Sell” and an average target price of $5.92.

About Empire State Realty Trust

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.