Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Decreases By 17.4%

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

Analyst Ratings Changes

ESRT has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Empire State Realty Trust in a research note on Monday, December 29th. Wells Fargo & Company decreased their price objective 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 investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Empire State Realty Trust presently has an average rating of “Hold” and a consensus price target of $8.40.

Empire State Realty Trust Stock Performance

ESRT traded up $0.04 during trading on Tuesday, hitting $6.57. The stock had a trading volume of 1,006,511 shares, compared to its average volume of 1,462,934. The company has a 50 day moving average price of $6.65 and a 200-day moving average price of $7.18. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 31.26 and a beta of 1.36. Empire State Realty Trust has a one year low of $6.09 and a one year high of $9.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 4.33 and a quick ratio of 4.33.

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 $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, December 15th. Empire State Realty Trust’s payout ratio is presently 66.67%.

Institutional Trading of Empire State Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in Empire State Realty Trust by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,934,145 shares of the real estate investment trust’s stock valued at $91,318,000 after purchasing an additional 1,153,446 shares during the period. Resolution Capital Ltd acquired a new stake in shares of Empire State Realty Trust in the second quarter valued at approximately $43,706,000. Principal Financial Group Inc. boosted its stake in shares of Empire State Realty Trust by 59.6% in 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 buying an additional 1,424,066 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 79,525 shares during the period. Finally, Centersquare Investment Management LLC grew its position in Empire State Realty Trust by 22.0% during 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 buying an additional 627,210 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.