Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Expands By 8.8%

Empire State Realty Trust, Inc. (NYSE:ESRT) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 7,820,000 shares, an increase of 8.8% from the March 15th total of 7,190,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 7.0 days. Currently, 5.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ESRT. GAMMA Investing LLC bought a new position in Empire State Realty Trust during the fourth quarter worth $34,000. Ensign Peak Advisors Inc bought a new stake in shares of Empire State Realty Trust in the third quarter valued at about $44,000. Osaic Holdings Inc. grew its position in Empire State Realty Trust by 37.6% during the second quarter. Osaic Holdings Inc. now owns 6,091 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,666 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Empire State Realty Trust during the 3rd quarter worth approximately $59,000. Finally, Captrust Financial Advisors acquired a new position in shares of Empire State Realty Trust in the 2nd quarter valued at $59,000. 67.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Empire State Realty Trust Stock Performance

ESRT traded down $0.15 during trading on Wednesday, hitting $8.99. The stock had a trading volume of 1,652,280 shares, compared to its average volume of 874,253. 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 12 month low of $5.43 and a 12 month high of $10.32. The company has a 50 day simple moving average of $9.76 and a 200-day simple moving average of $9.29. The firm has a market cap of $1.47 billion, a PE ratio of 28.97, a P/E/G ratio of 3.32 and a beta of 1.30.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 yield of 1.56%. Empire State Realty Trust’s payout ratio is 45.16%.

About Empire State Realty Trust

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.