Empire State Realty OP (NYSE:ESBA) Trading Up 2.2% – Here’s Why

Shares of Empire State Realty OP, L.P. (NYSE:ESBA) shot up 2.2% on Wednesday . The company traded as high as $5.50 and last traded at $5.1490. 8,143 shares traded hands during trading, a decline of 16% from the average session volume of 9,643 shares. The stock had previously closed at $5.04.

Empire State Realty OP Stock Performance

The firm’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $6.56.

Empire State Realty OP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, March 13th. This represents a $0.14 annualized dividend and a dividend yield of 2.7%.

Institutional Trading of Empire State Realty OP

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its position in Empire State Realty OP by 18.2% in the third quarter. Citadel Advisors LLC now owns 15,230 shares of the company’s stock valued at $113,000 after purchasing an additional 2,343 shares during the period. Wolff Wiese Magana LLC purchased a new stake in shares of Empire State Realty OP in the third quarter worth about $64,000. Mercer Global Advisors Inc. ADV boosted its position in shares of Empire State Realty OP by 31.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,000 shares of the company’s stock worth $244,000 after buying an additional 9,000 shares during the period. Brighton Jones LLC acquired a new stake in shares of Empire State Realty OP in the fourth quarter valued at about $156,000. Finally, Susquehanna International Group LLP grew its stake in shares of 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 valued at $839,000 after buying an additional 15,972 shares in the last quarter.

About Empire State Realty OP

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.