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

Sumitomo Mitsui Trust Group Inc. increased its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 12.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,787,585 shares of the real estate investment trust’s stock after acquiring an additional 881,649 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 4.50% of Empire State Realty Trust worth $31,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ESRT. Lasalle Investment Management Securities LLC lifted its holdings in shares of Empire State Realty Trust by 64.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 9,058,860 shares of the real estate investment trust’s stock valued at $47,106,000 after purchasing an additional 3,534,376 shares during the last quarter. SummitTX Capital L.P. increased its stake in Empire State Realty Trust by 11.3% in the 1st quarter. SummitTX Capital L.P. now owns 1,434,267 shares of the real estate investment trust’s stock worth $7,458,000 after purchasing an additional 146,070 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Empire State Realty Trust by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,358,330 shares of the real estate investment trust’s stock worth $7,063,000 after purchasing an additional 332,810 shares in the last quarter. Bessemer Group Inc. increased its stake in Empire State Realty Trust by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 712,061 shares of the real estate investment trust’s stock worth $3,703,000 after purchasing an additional 255,804 shares in the last quarter. Finally, BROOKFIELD Corp ON acquired a new stake in Empire State Realty Trust during the 1st quarter worth about $2,662,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ESRT shares. Citigroup cut their price objective on Empire State Realty Trust from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Empire State Realty Trust in a report on Friday, August 7th. Wells Fargo & Company dropped their target price on shares of Empire State Realty Trust from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 1st. Evercore set a $5.00 price target on shares of Empire State Realty Trust in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Sell” and an average target price of $5.00.

Empire State Realty Trust Stock Performance

Shares of ESRT stock opened at $5.32 on Friday. The company has a market capitalization of $920.19 million, a price-to-earnings ratio of 132.91 and a beta of 1.41. Empire State Realty Trust, Inc. has a 1-year low of $3.93 and a 1-year high of $7.53. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.15. The stock’s fifty day simple moving average is $4.53 and its 200-day simple moving average is $5.28.

Empire State Realty Trust (NYSE:ESRT) last announced its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter. Empire State Realty Trust had a return on equity of 0.13% and a net margin of 0.30%. The firm had revenue of $193.05 million during the quarter. On average, sell-side analysts predict that Empire State Realty Trust, Inc. will post 0.79 earnings per share for the current fiscal year.

Empire State Realty Trust Profile

Empire State Realty Trust, Inc is a self-managed real estate investment trust that owns, manages, operates, acquires and repositions office, retail and multifamily properties in New York City and the surrounding metropolitan area. Its portfolio is concentrated in Manhattan and includes properties serving businesses, residents, retailers and visitors.

The company’s landmark asset is the Empire State Building, which it operates as a mixed-use office, retail and tourist destination. Empire State Realty Trust also manages the building’s public observatories, offering visitors views of New York City, and provides leasing and property-management services across its portfolio.

Empire State Realty Trust was formed in 2011 and became a publicly traded company in 2013.