Hsbc Holdings PLC Increases Stock Position in Empire State Realty Trust, Inc. (NYSE:ESRT)

Hsbc Holdings PLC raised its position in shares of Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) by 43.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 112,826 shares of the real estate investment trust’s stock after purchasing an additional 34,004 shares during the period. Hsbc Holdings PLC’s holdings in Empire State Realty Trust were worth $739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Empire State Realty Trust by 0.7% during the first quarter. Vanguard Group Inc. now owns 23,240,809 shares of the real estate investment trust’s stock valued at $228,226,000 after buying an additional 154,374 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Empire State Realty Trust by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,236,825 shares of the real estate investment trust’s stock valued at $67,154,000 after acquiring an additional 92,579 shares in the last quarter. Credit Suisse AG increased its holdings in shares of Empire State Realty Trust by 0.6% during the third quarter. Credit Suisse AG now owns 9,558,745 shares of the real estate investment trust’s stock valued at $62,705,000 after acquiring an additional 60,797 shares in the last quarter. State Street Corp increased its holdings in shares of Empire State Realty Trust by 0.4% during the second quarter. State Street Corp now owns 7,286,462 shares of the real estate investment trust’s stock valued at $51,224,000 after acquiring an additional 30,240 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in shares of Empire State Realty Trust by 3.5% during the second quarter. Equity Investment Corp now owns 5,548,400 shares of the real estate investment trust’s stock valued at $39,005,000 after acquiring an additional 186,357 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets upgraded Empire State Realty Trust from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a report on Friday. Bank of America upgraded Empire State Realty Trust from a “neutral” rating to a “buy” rating and set a $9.25 price target for the company in a report on Wednesday. Citigroup raised their price target on Empire State Realty Trust from $7.25 to $7.50 and gave the company a “neutral” rating in a report on Wednesday. Finally, TheStreet upgraded Empire State Realty Trust from a “d+” rating to a “c” rating in a report on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.15.

Empire State Realty Trust Price Performance

NYSE ESRT opened at $7.74 on Friday. Empire State Realty Trust, Inc. has a one year low of $6.24 and a one year high of $10.06. The stock has a 50-day moving average of $7.51 and a 200 day moving average of $7.26. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.02 and a beta of 1.19. The company has a debt-to-equity ratio of 1.33, a quick ratio of 7.52 and a current ratio of 7.17.

Empire State Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were given a $0.035 dividend. The ex-dividend date was Friday, December 16th. This represents a $0.14 annualized dividend and a yield of 1.81%. Empire State Realty Trust’s payout ratio is 63.64%.

About Empire State Realty Trust

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Empire State Realty Trust, Inc is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets.