Lasalle Investment Management Securities LLC Makes New Investment in Empire State Realty Trust, Inc. $ESRT

Lasalle Investment Management Securities LLC acquired a new stake in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,517,295 shares of the real estate investment trust’s stock, valued at approximately $11,622,000. Lasalle Investment Management Securities LLC owned 0.89% of Empire State Realty Trust as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ESRT. Amundi increased its stake in Empire State Realty Trust by 2.0% during the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock worth $585,000 after buying an additional 1,562 shares during the period. AQR Capital Management LLC grew its stake in shares of Empire State Realty Trust by 35.9% during the first quarter. AQR Capital Management LLC now owns 26,800 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 7,079 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Empire State Realty Trust by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,552 shares of the real estate investment trust’s stock worth $638,000 after acquiring an additional 4,535 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Empire State Realty Trust by 137.7% in 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 acquiring an additional 1,798,850 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Empire State Realty Trust by 9.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,086 shares of the real estate investment trust’s stock valued at $8,869,000 after purchasing an additional 98,148 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Empire State Realty Trust Trading Down 2.4%

Empire State Realty Trust stock opened at $5.91 on Friday. Empire State Realty Trust, Inc. has a 1 year low of $5.86 and a 1 year high of $9.29. The firm’s 50-day moving average is $6.44 and its 200-day moving average is $7.04. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.33 and a current ratio of 4.33. The company has a market cap of $1.00 billion, a P/E ratio of 22.71 and a beta of 1.36.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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 dividend on an annualized basis and a yield of 2.4%. Empire State Realty Trust’s payout ratio is currently 53.85%.

Wall Street Analyst Weigh In

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

Empire State Realty Trust 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.