Empire State Realty Trust, Inc. (NYSE:ESRT) Sees Significant Decrease in Short Interest

Empire State Realty Trust, Inc. (NYSE:ESRT) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 5,950,000 shares, a decrease of 6.2% from the May 15th total of 6,340,000 shares. Currently, 4.4% of the company’s stock are short sold. Based on an average trading volume of 938,200 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Empire State Realty Trust by 63.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 63,450 shares of the real estate investment trust’s stock valued at $603,000 after buying an additional 24,580 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Empire State Realty Trust by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 103,709 shares of the real estate investment trust’s stock valued at $1,051,000 after buying an additional 4,727 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Empire State Realty Trust by 14.8% in the first quarter. Lazard Asset Management LLC now owns 314,093 shares of the real estate investment trust’s stock valued at $3,181,000 after buying an additional 40,451 shares in the last quarter. MQS Management LLC bought a new position in shares of Empire State Realty Trust in the first quarter valued at $172,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Empire State Realty Trust by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 308,313 shares of the real estate investment trust’s stock valued at $3,122,000 after buying an additional 17,487 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Empire State Realty Trust Stock Up 0.2 %

Shares of NYSE ESRT opened at $9.27 on Thursday. The firm has a market cap of $1.53 billion, a PE ratio of 30.90, a P/E/G ratio of 5.65 and a beta of 1.36. Empire State Realty Trust has a 12-month low of $6.57 and a 12-month high of $10.32. The company’s fifty day simple moving average is $9.30 and its 200 day simple moving average is $9.62. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.

Empire State Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, June 14th. Empire State Realty Trust’s dividend payout ratio (DPR) is 46.67%.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT's flagship Empire State Building – the "World's Most Famous Building" – includes its Observatory, Tripadvisor's 2023 Travelers' Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.