Empire State Realty Trust, Inc. $ESRT Shares Bought by SummitTX Capital L.P.

SummitTX Capital L.P. lifted its position in Empire State Realty Trust, Inc. (NYSE:ESRT) by 11.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,434,267 shares of the real estate investment trust’s stock after buying an additional 146,070 shares during the period. SummitTX Capital L.P. owned approximately 0.83% of Empire State Realty Trust worth $7,458,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in Empire State Realty Trust during the first quarter worth about $60,000. DRW Securities LLC acquired a new stake in Empire State Realty Trust in the 4th quarter valued at about $69,000. Vise Technologies Inc. acquired a new stake in Empire State Realty Trust in the 4th quarter valued at about $71,000. Federation des caisses Desjardins du Quebec boosted its position 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 valued at $73,000 after purchasing an additional 2,523 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Empire State Realty Trust during the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Price Performance

Shares of NYSE:ESRT opened at $5.67 on Monday. The stock has a market capitalization of $977.33 million, a P/E ratio of 21.80 and a beta of 1.35. The business has a 50-day moving average of $5.49 and a two-hundred day moving average of $5.70. Empire State Realty Trust, Inc. has a fifty-two week low of $4.87 and a fifty-two week 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.

Empire State Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, June 15th. Empire State Realty Trust’s payout ratio is 53.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESRT. Evercore set a $6.00 target price on shares of Empire State Realty Trust in a report on Monday, June 8th. Weiss Ratings cut shares of Empire State Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Citigroup decreased their price target on shares of Empire State Realty Trust from $7.00 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company dropped their price target on Empire State Realty Trust from $6.30 to $6.00 and set an “underweight” rating on the stock in a report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus 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.