Empire State Realty OP (NYSE:ESBA) Trading 0% Higher – Still a Buy?

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

Empire State Realty OP Stock Performance

The business has a 50-day moving average of $5.12 and a two-hundred day moving average of $5.34.

Empire State Realty OP Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESBA. Northwestern Mutual Wealth Management Co. raised its stake 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 acquiring an additional 2,467,442 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Empire State Realty OP during the fourth quarter valued at approximately $535,000. Vectors Research Management LLC acquired a new stake in Empire State Realty OP in the first quarter valued at approximately $364,000. Mercer Global Advisors Inc. ADV acquired a new stake in Empire State Realty OP in the third quarter valued at approximately $216,000. Finally, Bard Associates Inc. purchased a new position in Empire State Realty OP in the fourth quarter worth $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.