Empire State Realty Trust Shares Rise After Erez Asset Management Reveals 5.8% Stake
MT Newswires Live
Oct 07
Empire State Realty Trust (ESRT) shares rose about 4.5% in Tuesday trading after Erez Asset Management disclosed holding a 5.8% stake in the company.
According to a Schedule 13D filing made late Monday, the investor said it believes Empire State Realty's shares are "undervalued and represent an attractive investment opportunity."
The investor has communicated with the company's management and board regarding capital allocation, operations, strategy and plans including a potential strategic review of some or all of the assets, the filing shows.
Empire State Realty did not immediately respond to MT Newswires' request for comment.
Price: 4.42, Change: +0.19, Percent Change: +4.49
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.