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:
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NEW YORK, Dec. 17, 2020 /PRNewswire/ Empire State Realty Trust, Inc. (NYSE:ESRT) announced today that ClearView Healthcare Partners, a global strategy firm with consultants who serve the life science sector, signed a new eleven-year lease at 111 West 33
rd Street for 39,067 square feet. The space was recaptured by ESRT from a prior tenant and fulfills the expansion needs of ClearView Healthcare Partners, who currently occupy 10,539 square feet at the property. It is great to expand an excellent tenant, ClearView Healthcare Partners, at 111 West 33
rd Street, said Thomas Durels, EVP, Real Estate. ClearView knows that they can return to the office with confidence with ESRT s leadership in Indoor Environmental Quality. ESRT s portfolio is the first in North America to be certified under the WELL Health-Safety Rating, in addition to our advanced health and safety protocols and energy efficiency leadership.
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NEW YORK, Dec. 17, 2020 /PRNewswire/ Empire State Realty Trust (NYSE: ESRT) announced today that six of its properties have achieved Fitwel certification and that ESRT is a Fitwel Champion. ESRT s Fitwel certified properties represent 6.7 million square feet and approximately 83 percent of ESRT s New York City portfolio of properties.
Fitwel is a rigorous third-party healthy building certification system operated by the Center for Active Design (CfAD). Fitwel was created as a joint initiative between the U.S. Centers for Disease Control and Prevention (CDC) and the General Services Administration (GSA) to set the industry standard for evidence-based strategies that promote positive health outcomes for building occupants and communities. Fitwel translates global scientific and industry expertise into practical approaches that address our greatest health challenges.
Empire State Realty Trust Announces a New Repurchase Authorization and Continued Dividend Suspension for First and Second Quarters Of 2021 marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.