Empire State Realty OP (NYSE:ESBA) Trading Down 2.3% – Here’s What Happened

Empire State Realty OP, L.P. (NYSE:ESBA)’s share price traded down 2.3% during mid-day trading on Thursday . The company traded as low as $4.78 and last traded at $5.2950. 16,910 shares traded hands during mid-day trading, an increase of 85% from the average session volume of 9,118 shares. The stock had previously closed at $5.42.

Empire State Realty OP Price Performance

The stock has a 50-day moving average of $5.38 and a 200-day moving average of $5.89.

Empire State Realty OP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On Empire State Realty OP

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vectors Research Management LLC acquired a new stake in Empire State Realty OP in the 1st quarter valued at approximately $364,000. Mercer Global Advisors Inc. ADV raised its position in Empire State Realty OP by 31.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,000 shares of the company’s stock valued at $244,000 after buying an additional 9,000 shares during the last quarter. Bard Associates Inc. acquired a new position in shares of Empire State Realty OP during the 4th quarter worth approximately $181,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Empire State Realty OP by 7,049.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,502,442 shares of the company’s stock worth $15,765,000 after purchasing an additional 2,467,442 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Empire State Realty OP during the 4th quarter worth approximately $535,000.

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.