Lasalle Investment Management Securities LLC Has $36.02 Million Stock Holdings in Empire State Realty Trust, Inc. $ESRT

Lasalle Investment Management Securities LLC raised its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT) by 264.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,524,484 shares of the real estate investment trust’s stock after acquiring an additional 4,007,189 shares during the period. Empire State Realty Trust comprises about 1.4% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 27th largest holding. Lasalle Investment Management Securities LLC’s holdings in Empire State Realty Trust were worth $36,020,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ESRT. Aster Capital Management DIFC Ltd acquired a new stake in shares of Empire State Realty Trust during the third quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new stake in shares of Empire State Realty Trust during the second quarter worth approximately $74,000. Abacus Wealth Partners LLC acquired a new stake in shares of Empire State Realty Trust during the third quarter worth approximately $77,000. Oak Thistle LLC acquired a new stake in shares of Empire State Realty Trust during the fourth quarter worth approximately $92,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Empire State Realty Trust during the third quarter worth approximately $94,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ESRT. Wells Fargo & Company dropped their price objective on shares of Empire State Realty Trust from $6.80 to $6.30 and set an “underweight” rating for the company in a report on Monday, March 2nd. Citigroup dropped their price objective on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Evercore set a $7.00 price objective on shares of Empire State Realty Trust in a report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $6.35.

Empire State Realty Trust Price Performance

Shares of ESRT stock opened at $5.74 on Monday. Empire State Realty Trust, Inc. has a 52-week low of $4.87 and a 52-week high of $8.76. The stock has a market cap of $990.09 million, a PE ratio of 22.09 and a beta of 1.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm’s 50 day moving average price is $5.40 and its two-hundred day moving average price is $6.08.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.14 dividend on an annualized basis and a yield of 2.4%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 53.85%.

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.