Is Empire State Realty Trust (ESRT) a Smart Long-term Buy?
Longleaf Partners Small-Cap Fund, a Memphis-based fund under Southeastern Asset Management, recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 22.2% for the quarter, outperforming its benchmark, the Russell 2000 Index which returned 4.93% in the same quarter. You should check out Longleaf Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q3 2020 Investor Letter, Longleaf Partners highlighted a few stocks and Empire State Realty Trust Inc. (NYSE:ESRT) is one of them. Empire State Realty Trust Inc. (NYSE:ESRT) is a real estate investment trust company. Year-to-date, Empire State Realty Trust Inc. (NYSE:ESRT) stock lost 33% and on December 22nd it had a closing price of $9.36. Here is what Longleaf Partners said: