Empire State Realty Trust, Inc. $ESRT Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Empire State Realty Trust, Inc. (NYSE:ESRT) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,696,708 shares of the real estate investment trust’s stock after selling 739,272 shares during the period. Principal Financial Group Inc.’s holdings in Empire State Realty Trust were worth $14,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. lifted its stake in shares of Empire State Realty Trust by 456.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,128,303 shares of the real estate investment trust’s stock valued at $72,557,000 after purchasing an additional 9,129,959 shares during the period. Resolution Capital Ltd acquired a new stake in Empire State Realty Trust during the second quarter valued at $43,706,000. Lasalle Investment Management Securities LLC grew its position in Empire State Realty Trust by 264.1% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 5,524,484 shares of the real estate investment trust’s stock valued at $36,020,000 after buying an additional 4,007,189 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Empire State Realty Trust by 204.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,155,109 shares of the real estate investment trust’s stock valued at $20,571,000 after buying an additional 2,118,859 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in 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 valued at $24,284,000 after buying an additional 1,798,850 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Trading Up 0.8%

Shares of Empire State Realty Trust stock opened at $5.47 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.22. Empire State Realty Trust, Inc. has a twelve month low of $4.87 and a twelve month high of $8.07. The firm has a market capitalization of $944.05 million, a PE ratio of 21.06 and a beta of 1.35. The firm’s 50-day moving average price is $5.48 and its 200 day moving average price is $5.70.

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.6%. Empire State Realty Trust’s dividend payout ratio is presently 53.85%.

Analyst Ratings Changes

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