Empire State Realty Trust, Inc. (NYSE:ESRT) Short Interest Down 11.5% in July

Empire State Realty Trust, Inc. (NYSE:ESRT) 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 (NYSE:ESRT) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.14). Empire State Realty Trust had a return on equity of 2.57% and a net margin of 5.89%. The business had revenue of $189.54 million during the quarter. During the same period in the previous year, the company earned $0.26 EPS. On average, equities research analysts expect that Empire State Realty Trust will post 0.94 earnings per share for the current year.

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.

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.