Short Interest in Empire State Realty Trust, Inc. (NYSE:ESRT) Rises By 5.5%

Empire State Realty Trust, Inc. (NYSE:ESRT) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 4,780,000 shares, a growth of 5.5% from the October 31st total of 4,530,000 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lighthouse Investment Partners LLC acquired a new position in Empire State Realty Trust during the second quarter valued at approximately $7,926,000. Vision Capital Corp raised its position in Empire State Realty Trust by 79.9% in the third quarter. Vision Capital Corp now owns 2,802,948 shares of the real estate investment trust’s stock valued at $31,057,000 after purchasing an additional 1,245,211 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Empire State Realty Trust during the 3rd quarter worth approximately $256,000. 1832 Asset Management L.P. bought a new stake in Empire State Realty Trust during the 2nd quarter worth approximately $4,573,000. Finally, Victory Capital Management Inc. increased its position in Empire State Realty Trust by 7.3% in the 3rd quarter. Victory Capital Management Inc. now owns 262,687 shares of the real estate investment trust’s stock valued at $2,911,000 after acquiring an additional 17,777 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Empire State Realty Trust Stock Up 0.3 %

Empire State Realty Trust stock traded up $0.03 during mid-day trading on Tuesday, reaching $10.87. The company’s stock had a trading volume of 469,107 shares, compared to its average volume of 1,122,134. The business’s 50 day simple moving average is $10.94 and its 200 day simple moving average is $10.32. Empire State Realty Trust has a 12 month low of $8.78 and a 12 month high of $11.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 40.20 and a beta of 1.41.

Empire State Realty Trust (NYSE:ESRT) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). Empire State Realty Trust had a net margin of 6.22% and a return on equity of 2.73%. The firm had revenue of $199.60 million during the quarter. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that Empire State Realty Trust will post 0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their price target on Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th. StockNews.com lowered Empire State Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Finally, Wells Fargo & Company raised their target price on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

Empire State Realty Trust Company Profile

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.