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

Empire State Realty Trust, Inc. (NYSE:ESRT) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,860,000 shares, an increase of 24.1% from the April 30th total of 3,110,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is currently 2.6 days.

Empire State Realty Trust Price Performance

ESRT stock opened at $7.93 on Thursday. The firm has a 50 day moving average of $7.38 and a 200-day moving average of $8.86. Empire State Realty Trust has a 12-month low of $6.56 and a 12-month high of $11.62. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 28.32 and a beta of 1.60.

Empire State Realty Trust (NYSE:ESRT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter. Empire State Realty Trust had a net margin of 6.45% and a return on equity of 2.84%. The company had revenue of $154.54 million during the quarter. As a group, equities analysts expect that Empire State Realty Trust will post 0.88 EPS for the current fiscal year.

Empire State Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.77%. Empire State Realty Trust’s payout ratio is 46.67%.

Analysts Set New Price Targets

ESRT has been the subject of a number of recent analyst reports. Citigroup restated a “neutral” rating on shares of Empire State Realty Trust in a research report on Friday, April 11th. Wall Street Zen downgraded shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, May 19th. Wells Fargo & Company reduced their price objective on shares of Empire State Realty Trust from $11.00 to $8.30 and set an “underweight” rating for the company in a research report on Monday, May 19th. Finally, Wolfe Research upgraded shares of Empire State Realty Trust from a “peer perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Empire State Realty Trust presently has a consensus rating of “Hold” and an average target price of $10.43.

Insider Buying and Selling

In related news, EVP Thomas P. Durels sold 11,843 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $8.02, for a total value of $94,980.86. Following the completion of the sale, the executive vice president now owns 44,185 shares in the company, valued at $354,363.70. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,122 shares of company stock valued at $242,761 over the last quarter. 14.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Empire State Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new position in shares of Empire State Realty Trust during the 1st quarter worth approximately $196,000. Jane Street Group LLC purchased a new position in shares of Empire State Realty Trust during the 1st quarter worth approximately $1,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Empire State Realty Trust by 9.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,134,086 shares of the real estate investment trust’s stock worth $8,869,000 after purchasing an additional 98,148 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Empire State Realty Trust during the 1st quarter worth approximately $474,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Empire State Realty Trust by 137.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,105,313 shares of the real estate investment trust’s stock worth $24,284,000 after purchasing an additional 1,798,850 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Empire State Realty Trust Company Profile

Empire State Realty Trust, Inc (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The company is the recognized leader in energy efficiency and indoor environmental quality. ESRT’s flagship Empire State Building – the “World’s Most Famous Building” – includes its Observatory, Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best the #1 attraction in the US for two consecutive years.