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

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

Empire State Realty Trust Stock Performance

NYSE:ESRT traded up $0.09 on Wednesday, hitting $10.92. The stock had a trading volume of 376,920 shares, compared to its average volume of 1,121,088. Empire State Realty Trust has a 52-week low of $8.78 and a 52-week high of $11.62. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 40.11 and a beta of 1.41. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.23. The business’s 50-day simple moving average is $10.93 and its two-hundred day simple moving average is $10.33.

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

Analyst Ratings Changes

Several research firms have recently weighed in on ESRT. StockNews.com cut Empire State Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. BMO Capital Markets raised their price target on shares of Empire State Realty Trust from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Empire State Realty Trust from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th.

Institutional Investors Weigh In On Empire State Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of Empire State Realty Trust in the third quarter worth $257,000. Geode Capital Management LLC increased its stake in Empire State Realty Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,406,925 shares of the real estate investment trust’s stock worth $37,756,000 after buying an additional 38,529 shares in the last quarter. Vestcor Inc raised its holdings in Empire State Realty Trust by 308.6% during the third quarter. Vestcor Inc now owns 125,231 shares of the real estate investment trust’s stock valued at $1,388,000 after acquiring an additional 94,582 shares during the period. Barclays PLC boosted its stake in shares of Empire State Realty Trust by 133.2% in the third quarter. Barclays PLC now owns 304,539 shares of the real estate investment trust’s stock worth $3,374,000 after acquiring an additional 173,965 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Empire State Realty Trust by 1.9% in the third quarter. Public Employees Retirement System of Ohio now owns 195,324 shares of the real estate investment trust’s stock worth $2,164,000 after acquiring an additional 3,697 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.