Empire State Realty OP (NYSE:ESBA) Stock Price Up 1.7% – Time to Buy?

Empire State Realty OP, L.P. (NYSE:ESBA)’s share price shot up 1.7% during trading on Friday . The company traded as high as $5.39 and last traded at $5.39. 4,297 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 9,306 shares. The stock had previously closed at $5.30.

Empire State Realty OP Price Performance

The business has a 50 day moving average price of $5.26 and a 200 day moving average price of $6.12.

Empire State Realty OP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.035 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.6%.

Hedge Funds Weigh In On Empire State Realty OP

A number of institutional investors have recently made changes to their positions in the business. Vectors Research Management LLC bought a new position in shares of Empire State Realty OP in the first quarter worth about $364,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Empire State Realty OP by 31.0% in the fourth 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 during the period. Bard Associates Inc. bought a new position in shares of Empire State Realty OP in the fourth quarter worth about $181,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Empire State Realty OP by 7,049.8% in 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 period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Empire State Realty OP in the fourth quarter worth about $535,000.

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.