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

Empire State Realty Trust, Inc. (NYSE:ESRT) saw 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. Based on an average daily volume of 1,477,707 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.9% of the shares of the company are sold short. Currently, 3.9% of the shares of the company are sold short. Based on an average daily volume of 1,477,707 shares, the days-to-cover ratio is presently 3.8 days.

Hedge Funds Weigh In On Empire State Realty Trust

Several institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in Empire State Realty Trust by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust’s stock worth $91,318,000 after buying an additional 1,153,446 shares in the last quarter. Resolution Capital Ltd bought a new stake in shares of Empire State Realty Trust during the second quarter worth $43,706,000. Principal Financial Group Inc. lifted its stake in shares of Empire State Realty Trust by 59.6% during the third quarter. Principal Financial Group Inc. now owns 3,813,895 shares of the real estate investment trust’s stock valued at $29,214,000 after acquiring an additional 1,424,066 shares during the period. Geode Capital Management LLC boosted its holdings in Empire State Realty Trust by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,550,460 shares of the real estate investment trust’s stock valued at $28,727,000 after acquiring an additional 79,525 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its position in Empire State Realty Trust by 22.0% in the third quarter. Centersquare Investment Management LLC now owns 3,475,569 shares of the real estate investment trust’s stock worth $26,623,000 after purchasing an additional 627,210 shares during the period. 67.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ESRT shares. Wells Fargo & Company reduced their target price on Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating for the company in a research report 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 equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.40.

Empire State Realty Trust Price Performance

ESRT stock traded down $0.03 during trading on Monday, hitting $6.61. The company had a trading volume of 231,404 shares, compared to its average volume of 1,460,011. The company has a fifty day moving average price of $6.67 and a two-hundred day moving average price of $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 market cap of $1.12 billion, a P/E ratio of 31.45 and a beta of 1.34. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 1.14.

Empire State Realty Trust Dividend Announcement

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

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.