Empire State Realty Trust Inc (NYSE:ESRT) Sees Large Increase in Short Interest

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Empire State Realty Trust Inc (NYSE:ESRT) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 4,666,200 shares, a growth of 17.3% from the May 30th total of 3,977,000 shares. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is currently 4.1 days. Approximately 3.3% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in shares of Empire State Realty Trust by 6.1% in the 4th quarter. Advisor Group Inc. now owns 12,547 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 722 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Empire State Realty Trust by 2.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,468 shares of the real estate investment trust’s stock valued at $1,003,000 after acquiring an additional 1,740 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Empire State Realty Trust by 10.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,757 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 2,594 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Empire State Realty Trust by 27.8% in the 1st quarter. SG Americas Securities LLC now owns 19,483 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 4,233 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Empire State Realty Trust in the 1st quarter valued at about $67,000. Institutional investors own 75.07% of the company’s stock.

Shares of ESRT traded down $0.05 during midday trading on Friday, hitting $15.00. The stock had a trading volume of 875,730 shares, compared to its average volume of 1,447,200. The firm has a 50 day moving average of $15.31. Empire State Realty Trust has a twelve month low of $13.66 and a twelve month high of $17.86. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 6.07 and a beta of 0.76. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.99.

Empire State Realty Trust (NYSE:ESRT) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Empire State Realty Trust had a return on equity of 3.81% and a net margin of 10.32%. The firm had revenue of $143.40 million for the quarter, compared to the consensus estimate of $123.77 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that Empire State Realty Trust will post 0.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Thursday, June 13th. Empire State Realty Trust’s payout ratio is 42.86%.

Several research firms have issued reports on ESRT. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, July 8th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.25.

About Empire State Realty Trust

Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.

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