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

Empire State Realty Trust, Inc. (NYSE:ESRT) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 5,671,589 shares, a decrease of 17.4% from the December 31st total of 6,867,742 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,477,707 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily trading volume, of 1,477,707 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.9% of the shares of the stock are short sold.

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 acquired a new position in shares of Empire State Realty Trust in the 3rd quarter valued at $29,000. CWM LLC raised its position in shares of Empire State Realty Trust by 1,704.7% in the 2nd quarter. CWM LLC now owns 8,121 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 7,671 shares during the period. Simplex Trading LLC boosted its holdings in 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 acquiring an additional 7,408 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Empire State Realty Trust during the second quarter valued at about $74,000. Finally, Abacus Wealth Partners LLC purchased a new stake in Empire State Realty Trust during the third quarter valued at about $77,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Trading Up 0.5%

Empire State Realty Trust stock traded up $0.03 during trading on Wednesday, hitting $6.59. The company’s stock had a trading volume of 1,257,633 shares, compared to its average volume of 1,455,393. The stock’s fifty day moving average is $6.65 and its 200 day moving average is $7.18. 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 has a 1-year low of $6.09 and a 1-year high of $9.75. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 31.38 and a beta of 1.36.

Empire State Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

ESRT has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Empire State Realty Trust in a research report on Monday, December 29th. Wells Fargo & Company reduced 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 report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Empire State Realty Trust currently has a consensus 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.