Empire State Realty OP (NYSE:ESBA) Stock Price Down 2.2% – Time to Sell?

Shares of Empire State Realty OP, L.P. (NYSE:ESBA) dropped 2.2% on Thursday . The stock traded as low as $4.05 and last traded at $4.05. 670 shares changed hands during trading, a decline of 92% from the average daily volume of 7,905 shares. The stock had previously closed at $4.14.

Empire State Realty OP Price Performance

The company’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $5.14.

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 paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vectors Research Management LLC acquired a new position in shares of Empire State Realty OP in the 1st quarter worth approximately $364,000. Bard Associates Inc. acquired a new stake in shares of Empire State Realty OP during the 4th quarter valued at approximately $181,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake 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 purchasing an additional 2,467,442 shares during the last quarter.

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.