Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Rises By 22.7%

Empire State Realty Trust, Inc. (NYSE:ESRT) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 6,867,742 shares, an increase of 22.7% from the December 15th total of 5,598,435 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average trading volume of 1,418,339 shares, the short-interest ratio is presently 4.8 days. Based on an average trading volume of 1,418,339 shares, the short-interest ratio is presently 4.8 days. Currently, 4.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Resolution Capital Ltd purchased a new stake in Empire State Realty Trust in the second quarter valued at approximately $43,706,000. Goldman Sachs Group Inc. raised its position in 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 buying an additional 1,798,850 shares during the last quarter. Lasalle Investment Management Securities LLC acquired a new stake in Empire State Realty Trust during the 3rd quarter valued at approximately $11,622,000. Principal Financial Group Inc. boosted its holdings in shares of Empire State Realty Trust by 59.6% in the 3rd 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 acquiring an additional 1,424,066 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Empire State Realty Trust in the 2nd quarter valued at $10,879,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESRT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empire State Realty Trust in a research report on Monday, December 29th. Wells Fargo & Company dropped their target price on Empire State Realty Trust from $8.30 to $6.80 and set an “underweight” rating on the stock in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.40.

Empire State Realty Trust Stock Performance

Shares of NYSE:ESRT traded up $0.19 on Monday, hitting $6.59. 2,393,718 shares of the company were exchanged, compared to its average volume of 1,328,918. Empire State Realty Trust has a 1-year low of $6.09 and a 1-year high of $9.88. The stock’s 50 day moving average price is $6.73 and its 200 day moving average price is $7.29. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.12 billion, a P/E ratio of 31.36 and a beta of 1.34.

Empire State Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, December 15th. Empire State Realty Trust’s payout ratio is presently 66.67%.

Empire State Realty Trust Company Profile

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.