Published on 1 Mar 2024 on Insider Monkey via Yahoo Finance

Empire State Realty Trust (ESRT) is Back From a Challenging Real Estate Environment

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. Longleaf Partners Small-Cap Fund had a successful year, outperforming the Russell 2000 and Russell 2000 Value benchmark indices and achieving its absolute return goal of inflation plus 10%. The fund delivered 10.85% in the fourth quarter compared to a 14.03% return for the Russell 2000 Index and 15.26% for the Russell 2000 Value Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Small-Cap Fund featured stocks like Empire State Realty Trust, Inc. (NYSE:ESRT) in the fourth quarter 2023 investor letter. Empire State Realty Trust, Inc. (NYSE:ESRT) is a NYC-focused REIT. On February 29, 2024, Empire State Realty Trust, Inc. (NYSE:ESRT) stock closed at $9.97 per share. One-month return of Empire State Realty Trust, Inc. (NYSE:ESRT) was 5.50%, and its shares gained 28.81% of their value over the last 52 weeks. Empire State Realty Trust, Inc. (NYSE:ESRT) has a market capitalization of $2.793 billion.

Longleaf Partners Small-Cap Fund stated the following regarding Empire State Realty Trust, Inc. (NYSE:ESRT) in its fourth quarter 2023 investor letter: