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 large drop in short interest in January. As of January 15th, there was short interest totaling 5,671,589 shares, a drop of 17.4% from the December 31st total of 6,867,742 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily volume of 1,477,707 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 1,477,707 shares, the days-to-cover ratio is currently 3.8 days. Currently, 3.9% of the company’s stock are sold short.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded down $0.03 during midday trading on Monday, hitting $6.61. The company’s stock had a trading volume of 231,404 shares, compared to its average volume of 1,460,011. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 31.45 and a beta of 1.34. The stock’s 50 day simple moving average is $6.67 and its 200 day simple moving average is $7.19. Empire State Realty Trust has a fifty-two week low of $6.09 and a fifty-two week high of $9.75. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.33 and a current ratio of 4.33.

Empire State Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.035 per share. The ex-dividend date was Monday, December 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.1%. Empire State Realty Trust’s payout ratio is 66.67%.

Hedge Funds Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in Empire State Realty Trust in the 3rd quarter valued at $29,000. CWM LLC lifted its stake in shares of Empire State Realty Trust by 1,704.7% in the second quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 7,671 shares during the period. Simplex Trading LLC lifted its stake in shares of Empire State Realty Trust by 869.5% in the second quarter. Simplex Trading LLC now owns 8,260 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 7,408 shares during the period. Raymond James Financial Inc. acquired a new stake in Empire State Realty Trust during the second quarter worth about $74,000. Finally, Abacus Wealth Partners LLC bought a new position in Empire State Realty Trust during the third quarter valued at about $77,000. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ESRT. Wells Fargo & Company lowered their target price on shares of Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empire State Realty Trust in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.40.

Empire State Realty Trust Company Profile

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.