Empire State Realty OP (NYSE:ESBA) Trading Up 2.2% – Still a Buy?

Empire State Realty OP, L.P. (NYSE:ESBA)’s stock price shot up 2.2% on Wednesday . The company traded as high as $5.50 and last traded at $5.1490. 8,143 shares changed 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 Up 2.2%

The stock’s fifty day simple moving average is $5.80 and its two-hundred day simple moving average is $6.56.

Empire State Realty OP Announces Dividend

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

Institutional Investors Weigh In On Empire State Realty OP

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 worth $15,765,000 after purchasing an additional 2,467,442 shares during the period. Susquehanna International Group LLP grew its holdings in shares of Empire State Realty OP by 16.5% during the 3rd 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 during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Empire State Realty OP during the 4th quarter worth about $535,000. Mercer Global Advisors Inc. ADV increased its position in Empire State Realty OP by 31.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,000 shares of the company’s stock worth $244,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Bard Associates Inc. acquired a new stake in Empire State Realty OP during the 4th quarter worth approximately $181,000.

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.