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

Empire State Realty Trust, Inc. (NYSE:ESRT) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,820,000 shares, a growth of 8.8% from the March 15th total of 7,190,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is presently 7.0 days. Approximately 5.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Empire State Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.33.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Empire State Realty Trust during the 4th quarter valued at $34,000. Ensign Peak Advisors Inc purchased a new stake in shares of Empire State Realty Trust in the third quarter worth about $44,000. Osaic Holdings Inc. lifted its position in Empire State Realty Trust by 37.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,091 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,666 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Empire State Realty Trust during the third quarter worth $59,000. Finally, Captrust Financial Advisors purchased a new position in shares of Empire State Realty Trust in the second quarter valued at $59,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Empire State Realty Trust Trading Down 1.6 %

ESRT traded down $0.15 during midday trading on Wednesday, hitting $8.99. The company’s stock had a trading volume of 1,652,280 shares, compared to its average volume of 874,253. The firm has a 50-day moving average price of $9.76 and a two-hundred day moving average price of $9.29. The company has a current ratio of 7.04, a quick ratio of 7.04 and a debt-to-equity ratio of 1.29. Empire State Realty Trust has a 52-week low of $5.43 and a 52-week high of $10.32. The firm has a market cap of $1.47 billion, a P/E ratio of 28.97, a PEG ratio of 3.32 and a beta of 1.30.

Empire State Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.56%. Empire State Realty Trust’s dividend payout ratio is presently 45.16%.

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.