Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Rises By 22.7%

Empire State Realty Trust, Inc. (NYSE:ESRT) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 6,867,742 shares, a growth of 22.7% from the December 15th total of 5,598,435 shares. Based on an average daily volume of 1,418,339 shares, the short-interest ratio is currently 4.8 days. Currently, 4.7% of the shares of the company are sold short. Currently, 4.7% of the shares of the company are sold short. Based on an average daily volume of 1,418,339 shares, the short-interest ratio is currently 4.8 days.

Hedge Funds Weigh In On Empire State Realty Trust

A number of hedge funds have recently bought and sold shares of the business. M&T Bank Corp grew its holdings in Empire State Realty Trust by 11.7% in the second quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,360 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Empire State Realty Trust by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock worth $574,000 after buying an additional 1,418 shares during the period. Amundi lifted its position in shares of Empire State Realty Trust by 2.0% during the 1st quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 1,562 shares in the last quarter. Van ECK Associates Corp grew its stake in Empire State Realty Trust by 4.4% in the 3rd quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 1,707 shares during the period. Finally, Cerity Partners LLC grew its stake in Empire State Realty Trust by 3.0% in the 2nd quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 1,896 shares during the period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Empire State Realty Trust Stock Performance

ESRT stock traded up $0.19 during midday trading on Monday, hitting $6.59. 2,393,718 shares of the stock traded hands, compared to its average volume of 1,328,918. Empire State Realty Trust has a 1-year low of $6.09 and a 1-year high of $9.88. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33. The stock’s fifty day simple moving average is $6.73 and its 200-day simple moving average is $7.29. The firm has a market cap of $1.12 billion, a P/E ratio of 31.36 and a beta of 1.34.

Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given 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 dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ESRT. Wells Fargo & Company reduced their price objective on Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Empire State Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $8.40.

About Empire State Realty Trust

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.