Empire State Realty Trust, Inc. (NYSE:ESRT) Short Interest Update

Empire State Realty Trust, Inc. (NYSE:ESRT - Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 3,860,000 shares, an increase of 24.1% from the April 30th total of 3,110,000 shares. Approximately 2.8% of the company's stock are short sold. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 2.6 days.

Empire State Realty Trust Price Performance

ESRT stock traded up $0.31 during mid-day trading on Friday, hitting $8.40. 2,381,309 shares of the stock were exchanged, compared to its average volume of 1,266,204. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.72 and a quick ratio of 3.72. The business has a fifty day moving average price of $7.40 and a 200 day moving average price of $8.82. Empire State Realty Trust has a 12 month low of $6.56 and a 12 month high of $11.62. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 30.00 and a beta of 1.67.

Empire State Realty Trust (NYSE:ESRT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.19 EPS for the quarter. The firm had revenue of $154.54 million for the quarter. Empire State Realty Trust had a return on equity of 2.84% and a net margin of 6.45%. On average, sell-side analysts anticipate that Empire State Realty Trust will post 0.88 EPS for the current year.

Empire State Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.67%. Empire State Realty Trust's dividend payout ratio is presently 46.67%.

Insiders Place Their Bets

In other Empire State Realty Trust news, EVP Thomas P. Durels sold 12,500 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $8.11, for a total value of $101,375.00. Following the completion of the sale, the executive vice president now directly owns 74,307 shares of the company's stock, valued at $602,629.77. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 30,122 shares of company stock worth $242,761. Corporate insiders own 14.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in Empire State Realty Trust during the 4th quarter valued at approximately $26,000. Quantbot Technologies LP bought a new stake in Empire State Realty Trust during the 1st quarter valued at approximately $37,000. Sterling Capital Management LLC boosted its position in Empire State Realty Trust by 819.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,295 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 3,828 shares in the last quarter. State of Wyoming bought a new stake in Empire State Realty Trust during the 4th quarter valued at approximately $54,000. Finally, US Bancorp DE boosted its position in Empire State Realty Trust by 22.4% during the 1st quarter. US Bancorp DE now owns 9,973 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 1,824 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup reissued a "neutral" rating on shares of Empire State Realty Trust in a research note on Friday, April 11th. Wells Fargo & Company dropped their price target on Empire State Realty Trust from $11.00 to $8.30 and set an "underweight" rating for the company in a research note on Monday, May 19th. Wolfe Research raised Empire State Realty Trust from a "peer perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research note on Tuesday, March 25th. Finally, Wall Street Zen lowered Empire State Realty Trust from a "hold" rating to a "sell" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.43.

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.