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

Empire State Realty OP, L.P. (NYSE:ESBA)’s stock price was down 6.4% 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 Down 6.4%

The stock’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.98.

Empire State Realty OP Dividend Announcement

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

Hedge Funds Weigh In On Empire State Realty OP

Several hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its holdings in Empire State Realty OP by 31.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,000 shares of the company’s stock worth $244,000 after acquiring an additional 9,000 shares in the last quarter. Bard Associates Inc. acquired a new position in Empire State Realty OP during the fourth quarter worth $181,000. Northwestern Mutual Wealth Management Co. raised its position in 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 worth $15,765,000 after acquiring an additional 2,467,442 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Empire State Realty OP in the fourth quarter valued at $535,000. Finally, Susquehanna International Group LLP lifted its stake 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 valued at $839,000 after acquiring an additional 15,972 shares during 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.