Empire State Realty Trust Shares Rise After Erez Asset Management Reveals 5.8% Stake

MT Newswires Live10-07 02:46

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

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