Empire State Realty Trust, Inc. (NYSE:ESRT) Short Interest Update

Empire State Realty Trust, Inc. (NYSE:ESRT) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 5,440,000 shares, a drop of 8.6% from the May 31st total of 5,950,000 shares. Based on an average trading volume of 931,400 shares, the days-to-cover ratio is presently 5.8 days. Approximately 4.1% of the shares of the company are sold short.

Empire State Realty Trust Stock Performance

NYSE:ESRT traded down $0.04 on Wednesday, hitting $9.31. The stock had a trading volume of 252,275 shares, compared to its average volume of 1,037,763. Empire State Realty Trust has a 52-week low of $7.25 and a 52-week high of $10.32. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 5.73 and a beta of 1.40. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23. The business’s 50-day simple moving average is $9.30 and its two-hundred day simple moving average is $9.60.

Empire State Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.50%. Empire State Realty Trust’s dividend payout ratio is currently 46.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in Empire State Realty Trust during the fourth quarter valued at $34,000. Federated Hermes Inc. bought a new position in shares of Empire State Realty Trust during the 3rd quarter valued at approximately $59,000. Spirit of America Management Corp NY purchased a new stake in Empire State Realty Trust in the 4th quarter worth approximately $87,000. New York State Teachers Retirement System bought a new position in shares of Empire State Realty Trust in the fourth quarter worth approximately $115,000. Finally, Scotia Capital Inc. bought a new stake in shares of Empire State Realty Trust during the 4th quarter valued at $123,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.