Empire State Realty Trust, Inc. (NYSE:ESRT – Get Free Report) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 5,300,000 shares, a decrease of 11.5% from the July 15th total of 5,990,000 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 4.9 days.
Hedge Funds Weigh In On Empire State Realty Trust
A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in Empire State Realty Trust in the 4th quarter valued at $34,000. New York State Teachers Retirement System acquired a new stake in shares of Empire State Realty Trust in the fourth quarter valued at about $115,000. Scotia Capital Inc. bought a new position in shares of Empire State Realty Trust in the fourth quarter worth about $123,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Empire State Realty Trust during the 2nd quarter worth about $137,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Empire State Realty Trust during the 1st quarter valued at approximately $143,000. Institutional investors own 67.10% of the company’s stock.
Empire State Realty Trust Stock Down 0.3 %
ESRT stock traded down $0.03 during trading hours on Monday, hitting $10.24. The company’s stock had a trading volume of 975,194 shares, compared to its average volume of 1,095,973. The stock has a 50 day moving average price of $9.94 and a two-hundred day moving average price of $9.70. Empire State Realty Trust has a 12 month low of $7.25 and a 12 month high of $11.20. The company has a market capitalization of $1.69 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 6.38 and a beta of 1.39. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.23.
Empire State Realty Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.14 dividend on an annualized basis and a yield of 1.37%. Empire State Realty Trust’s payout ratio is currently 46.67%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on ESRT shares. BMO Capital Markets lifted their target price on shares of Empire State Realty Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 26th.
Read Our Latest Analysis on Empire State Realty Trust
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.
See Also
- Five stocks we like better than Empire State Realty Trust
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Moderna Dips on Q2 Earnings But Can It Rip on a Short Squeeze?
- Business Services Stocks Investing
- 2 Option Strategies to Maximize Profits in a Bear Market
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Lululemon Stock Gears Up for a Massive Comeback Rally
Receive News & Ratings for Empire State Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire State Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.