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

Empire State Realty Trust Inc (NYSE:ESRT) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,067,100 shares, a drop of 6.6% from the July 31st total of 4,353,300 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.8% of the shares of the stock are sold short.

Several equities analysts have commented on the stock. ValuEngine lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. BMO Capital Markets lowered shares of Empire State Realty Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $19.00 to $15.00 in a report on Friday, September 6th. Finally, Citigroup lowered their target price on shares of Empire State Realty Trust from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, September 6th.

Institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Empire State Realty Trust by 3,175.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,784 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 2,699 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Empire State Realty Trust during the 1st quarter valued at about $67,000. Transamerica Financial Advisors Inc. bought a new stake in Empire State Realty Trust during the 2nd quarter valued at about $86,000. Machina Capital S.A.S. lifted its holdings in Empire State Realty Trust by 324.5% during the 2nd quarter. Machina Capital S.A.S. now owns 8,150 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 6,230 shares in the last quarter. Finally, BBT Capital Management LLC bought a new stake in Empire State Realty Trust during the 1st quarter valued at about $178,000. Hedge funds and other institutional investors own 77.19% of the company’s stock.

Shares of Empire State Realty Trust stock traded down $0.38 during trading on Friday, hitting $14.29. The stock had a trading volume of 1,336,735 shares, compared to its average volume of 1,496,251. The firm’s fifty day simple moving average is $13.71 and its 200-day simple moving average is $15.02. The stock has a market cap of $2.64 billion, a PE ratio of 14.58, a PEG ratio of 6.61 and a beta of 0.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 6.10 and a quick ratio of 6.10. Empire State Realty Trust has a 12 month low of $12.77 and a 12 month high of $17.05.

Empire State Realty Trust (NYSE:ESRT) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.31 million. Empire State Realty Trust had a return on equity of 3.26% and a net margin of 8.81%. Empire State Realty Trust’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Analysts expect that Empire State Realty Trust will post 0.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.42 annualized dividend and a dividend yield of 2.94%. Empire State Realty Trust’s dividend payout ratio (DPR) is presently 42.86%.

About Empire State Realty Trust

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.

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