Why One Real Estate Fund Dumped Its $4 Million Stake in This Iconic NYC Office REIT

On November 14, New York City-based HGI Capital Management disclosed it fully exited its position in Empire State Realty Trust (NYSE:ESRT), selling 494,696 shares for an estimated $4 million during the third quarter.According to a filing with the Securities and Exchange Commission dated November 14, HGI Capital Management sold all 494,696 shares of Empire State Realty Trust (NYSE:ESRT) during the third quarter. The estimated value of the stake exited was $4 million based on average quarterly pricing. The fund’s reported assets under management totaled $36.4 million across 21 positions as of September 30.HGI Capital's Empire State Realty Trust position was previously 5.4% of AUM.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool