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Empire State Realty Trust, Inc. (NYSE:ESRT) Short Interest Down 12.1% in August

kopsource · Aug 31, 2022 23:42

Empire State Realty Trust, Inc. (NYSE:ESRT – Get Rating) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 10,850,000 shares, a decline of 12.1% from the July 31st total of 12,350,000 shares. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is currently 8.0 days. Currently, 8.1% of the company's stock are short sold.

Empire State Realty Trust Stock Down 1.7 %

NYSE:ESRT traded down $0.12 during mid-day trading on Wednesday, hitting $6.97. 1,598,752 shares of the company's stock traded hands, compared to its average volume of 1,576,617. The company has a fifty day moving average of $7.54 and a 200 day moving average of $8.30. Empire State Realty Trust has a twelve month low of $6.53 and a twelve month high of $11.07. The company has a market capitalization of $1.17 billion, a P/E ratio of 139.40, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 1.37, a quick ratio of 6.06 and a current ratio of 6.06.

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Empire State Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, September 14th. Empire State Realty Trust's dividend payout ratio is currently 280.00%.

Institutional Trading of Empire State Realty Trust

Several large investors have recently added to or reduced their stakes in ESRT. Equity Investment Corp grew its stake in Empire State Realty Trust by 46.0% during the 1st quarter. Equity Investment Corp now owns 5,362,043 shares of the real estate investment trust's stock valued at $52,655,000 after purchasing an additional 1,689,535 shares during the last quarter. Credit Suisse AG grew its stake in Empire State Realty Trust by 20.5% during the 2nd quarter. Credit Suisse AG now owns 9,497,948 shares of the real estate investment trust's stock valued at $66,770,000 after purchasing an additional 1,618,452 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Empire State Realty Trust by 36.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,794,641 shares of the real estate investment trust's stock valued at $33,772,000 after purchasing an additional 1,017,288 shares during the last quarter. State Street Corp grew its stake in Empire State Realty Trust by 15.5% during the 1st quarter. State Street Corp now owns 7,256,222 shares of the real estate investment trust's stock valued at $71,256,000 after purchasing an additional 974,740 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Empire State Realty Trust by 30.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,172,350 shares of the real estate investment trust's stock valued at $19,334,000 after purchasing an additional 507,994 shares during the last quarter. Hedge funds and other institutional investors own 76.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ESRT. Evercore ISI set a $10.00 price target on Empire State Realty Trust in a research report on Monday, June 20th. TheStreet raised Empire State Realty Trust from a "d+" rating to a "c-" rating in a research report on Monday, August 1st. StockNews.com raised Empire State Realty Trust from a "sell" rating to a "hold" rating in a research report on Friday, July 29th. Wells Fargo & Company reduced their price target on Empire State Realty Trust from $8.00 to $5.50 and set an "underweight" rating for the company in a research report on Friday, July 1st. Finally, Wolfe Research lowered Empire State Realty Trust from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Empire State Realty Trust currently has a consensus rating of "Hold" and an average target price of $7.88.

Empire State Realty Trust Company Profile

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Empire State Realty Trust, Inc (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the World's Most Famous Building.