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

Empire State Realty Trust, Inc. (NYSE:ESRT) was the target of a large increase in short interest during the month of 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. Approximately 4.7% of the shares of the company are sold short. Based on an average daily volume of 1,418,339 shares, the days-to-cover ratio is presently 4.8 days. Based on an average daily volume of 1,418,339 shares, the days-to-cover ratio is presently 4.8 days. Approximately 4.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. M&T Bank Corp grew its position in shares of Empire State Realty Trust by 11.7% during the 2nd quarter. M&T Bank Corp now owns 12,961 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 1,360 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Empire State Realty Trust by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 70,992 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 1,418 shares during the period. Amundi grew its holdings in Empire State Realty Trust by 2.0% in the first quarter. Amundi now owns 78,614 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 1,562 shares during the period. Van ECK Associates Corp increased its position in shares of Empire State Realty Trust by 4.4% in the third quarter. Van ECK Associates Corp now owns 40,169 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 1,707 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Empire State Realty Trust by 3.0% during the 2nd quarter. Cerity Partners LLC now owns 64,449 shares of the real estate investment trust’s stock worth $521,000 after buying an additional 1,896 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Down 3.3%

Shares of ESRT stock opened at $6.37 on Wednesday. Empire State Realty Trust has a twelve month low of $6.09 and a twelve month high of $9.88. The stock has a market cap of $1.08 billion, a P/E ratio of 30.31 and a beta of 1.34. The stock has a 50 day moving average of $6.71 and a 200 day moving average of $7.27. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 1.14.

Empire State Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, December 15th. Empire State Realty Trust’s dividend payout ratio (DPR) is currently 66.67%.

About Empire State Realty Trust

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.