Erez Asset Management takes 5.8% of Empire State Realty Trust, saying the shares are undervalued
SEC filings show Erez Asset Management spent about $43 million on 10 million Empire State Realty Trust shares and has discussed strategy with the board.

Erez Asset Management disclosed a 5.8% stake (10,000,000 Class A shares, about $43 million) in Empire State Realty Trust in a Schedule 13D filed on 5 October 2026, stating that it believes the shares are undervalued.
- Holder
- Erez Asset Management LLC
- Stake
- 10,000,000 Class A shares (5.8%)
- Cost
- About $43 million incl. commissions
- Filing
- Schedule 13D, 5 October 2026 (event 1 October 2026)
Erez Asset Management LLC has disclosed a 5.8% stake in Empire State Realty Trust, Inc. (CIK 1541401), and says in its filing that it believes the company's shares are undervalued. The original Schedule 13D was filed with the SEC on 5 October 2026, for an event dated 1 October 2026.
The reporting persons beneficially own 10,000,000 shares of Class A common stock, or 5.8% of the class. Of these, Erez REIT Opportunities LP holds 7,500,000 shares, or 4.4%. The percentages are based on 172,165,643 Class A shares outstanding as of 4 August 2026, as disclosed in the company's Form 10-Q. (Schedule 13D, Item 5, 5 Oct 2026)
The filing states that about $43 million, including commissions, of the working capital of the Erez funds was used to buy the shares. (Schedule 13D, Item 3, 5 Oct 2026)
According to the filing, the reporting persons have communicated with management and the board of directors about capital allocation, strategy and a potential strategic review of assets. They intend to continue discussions on matters including management, governance, capital structure and compensation, and may increase or decrease their position or propose actions of the kind listed in Item 4 of the schedule. (Schedule 13D, Item 4, 5 Oct 2026)
The filing reports no contracts, arrangements or understandings with other parties concerning the company's securities beyond those set out in the schedule. (Schedule 13D, Item 6, 5 Oct 2026)
The filings do not state what specific proposals, if any, have been put to the board or how the board has responded. Loro has made no approach to the company. Figures are as reported in Erez Asset Management's SEC filings.
Primary sources
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