Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Drops By 14.2%

Empire State Realty Trust, Inc. (NYSE:ESRT) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 4,060,000 shares, a decline of 14.2% from the December 15th total of 4,730,000 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is presently 3.6 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Empire State Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. BMO Capital Markets increased their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th.

Empire State Realty Trust Trading Up 0.5 %

Empire State Realty Trust stock traded up $0.05 during midday trading on Friday, reaching $9.65. The stock had a trading volume of 956,733 shares, compared to its average volume of 882,096. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 35.72 and a beta of 1.41. Empire State Realty Trust has a 52-week low of $8.78 and a 52-week high of $11.62. The company has a fifty day moving average of $10.50 and a 200 day moving average of $10.57.

Empire State Realty Trust (NYSE:ESRT) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $199.60 million for the quarter. Empire State Realty Trust had a return on equity of 2.73% and a net margin of 6.22%. During the same period in the prior year, the company earned $0.25 earnings per share. On average, analysts anticipate that Empire State Realty Trust will post 0.93 earnings per share for the current fiscal year.

Empire State Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, December 16th. Empire State Realty Trust’s payout ratio is presently 51.85%.

Insider Buying and Selling at Empire State Realty Trust

In other news, EVP Thomas P. Durels sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.10, for a total transaction of $101,000.00. Following the sale, the executive vice president now directly owns 86,807 shares of the company’s stock, valued at $876,750.70. This represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Empire State Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc increased its position in shares of Empire State Realty Trust by 308.6% during the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock worth $1,388,000 after acquiring an additional 94,582 shares during the period. JPMorgan Chase & Co. grew its stake in Empire State Realty Trust by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,615,985 shares of the real estate investment trust’s stock worth $17,905,000 after purchasing an additional 98,850 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Empire State Realty Trust during the 2nd quarter worth $7,926,000. Vision Capital Corp raised its position in Empire State Realty Trust by 79.9% during the 3rd quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after purchasing an additional 1,245,211 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Empire State Realty Trust by 95.4% in the 3rd quarter. Jane Street Group LLC now owns 228,587 shares of the real estate investment trust’s stock worth $2,533,000 after buying an additional 111,589 shares during the period. 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.