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

Empire State Realty Trust, Inc. (NYSE:ESRT) saw a significant decline in short interest in August. As of August 15th, there was short interest totalling 5,020,000 shares, a decline of 5.3% from the July 31st total of 5,300,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 4.6 days. Approximately 3.7% of the company’s stock are short sold.

Institutional Trading of Empire State Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at approximately $34,000. Scotia Capital Inc. acquired a new position in Empire State Realty Trust during the fourth quarter worth $123,000. Mercer Global Advisors Inc. ADV acquired a new position in Empire State Realty Trust during the second quarter worth $137,000. Allspring Global Investments Holdings LLC acquired a new position in Empire State Realty Trust during the first quarter worth $143,000. Finally, Quest Partners LLC acquired a new position in Empire State Realty Trust during the fourth quarter worth $157,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ESRT shares. BMO Capital Markets upped their price objective on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. StockNews.com cut shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

Empire State Realty Trust Stock Up 1.2 %

Shares of NYSE:ESRT opened at $10.79 on Monday. Empire State Realty Trust has a one year low of $7.25 and a one year high of $11.20. The company has a 50 day moving average of $10.16 and a 200-day moving average of $9.75. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 6.52 and a beta of 1.39.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The firm had revenue of $189.54 million for the quarter. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts forecast that Empire State Realty Trust will post 0.94 earnings per share for the current year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Monday, September 16th. Empire State Realty Trust’s payout ratio is currently 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.