Empire State Realty OP (NYSE:ESBA) Trading Up 0% – Here’s Why

Empire State Realty OP, L.P. (NYSE:ESBA) shares rose 0% on Thursday . The company traded as high as $4.73 and last traded at $4.6010. Approximately 6,257 shares changed hands during trading, a decline of 23% from the average session volume of 8,112 shares. The stock had previously closed at $4.60.

Empire State Realty OP Price Performance

The stock’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $5.34.

Empire State Realty OP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.035 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESBA. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Empire State Realty OP by 7,049.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,502,442 shares of the company’s stock valued at $15,765,000 after purchasing an additional 2,467,442 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Empire State Realty OP in the fourth quarter worth approximately $535,000. Vectors Research Management LLC purchased a new stake in Empire State Realty OP during the first quarter worth $364,000. Mercer Global Advisors Inc. ADV purchased a new stake in Empire State Realty OP during the third quarter worth $216,000. Finally, Bard Associates Inc. bought a new stake in Empire State Realty OP during the 4th quarter valued at $181,000.

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.