Empire State Realty OP (NYSE:ESBA) Shares Down 6.4% – Here’s What Happened

Empire State Realty OP, L.P. (NYSE:ESBA) was down 6.4% during trading on Thursday . The company traded as low as $5.70 and last traded at $5.72. Approximately 3,187 shares changed hands during trading, a decline of 77% from the average daily volume of 13,953 shares. The stock had previously closed at $6.11.

Empire State Realty OP Stock Up 2.7%

The company has a fifty day moving average of $6.40 and a two-hundred day moving average of $6.97.

Empire State Realty OP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, December 15th.

Hedge Funds Weigh In On Empire State Realty OP

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Empire State Realty OP by 7,049.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,502,442 shares of the company’s stock valued at $15,765,000 after buying an additional 2,467,442 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Empire State Realty OP during the 4th quarter valued at about $535,000. Mercer Global Advisors Inc. ADV bought a new stake in Empire State Realty OP in the third quarter valued at about $216,000. Bard Associates Inc. bought a new stake in Empire State Realty OP in the fourth quarter valued at about $181,000. Finally, Susquehanna International Group LLP raised its position in Empire State Realty OP by 16.5% in the third quarter. Susquehanna International Group LLP now owns 112,754 shares of the company’s stock worth $839,000 after purchasing an additional 15,972 shares in the last quarter.

Empire State Realty OP Company Profile

Empire State Realty OP is the operating partnership affiliated with Empire State Realty Trust, a real estate investment trust focused on ownership, operation and redevelopment of office and retail properties. Through its portfolio, the company generates income primarily by leasing space in landmark and Class A office buildings, managing tenant relationships and overseeing property operations, maintenance and marketing efforts.

The partnership’s flagship asset is the iconic Empire State Building in New York City, a 102‐story office tower and major tourist attraction.