Billionaire Mason Hawkins’ 10 Small-Cap Stocks with Huge Upside Potential

8. Empire State Realty Trust, Inc. (NYSE:ESRT)

Market Capitalization: $1.19 billion

Number of Hedge Fund Holders: 19

Southeastern Asset Management Stake: $16,068,426

Analyst Upside Potential: 40.06%

Empire State Realty Trust, Inc. (NYSE:ESRT) is a real estate investment trust, which focuses on managing and operating a portfolio of properties in New York City. It has 10 office properties, out of which 9 are in midtown Manhattan. The company operates through two main business segments namely, Real Estate Segment and Observatory Segment.

On April 17, the company announced signing two lease renewal and expansion agreements. One with Carolina Herrera, Ltd. for 34K Square Feet at 501 Seventh Avenue and the other with Workday Inc. for the Empire State Building. Moreover, Empire State Realty Trust, Inc. (NYSE:ESRT) released its fiscal 2024 full-year results highlighting three consecutive years of growth in leased space. During the year, the company leased 1.3 million square feet, up from 982,000 square feet leased in 2023. Management noted that its Manhattan office area, which comprises the majority of its property portfolio, is 94% leased, reflecting the high demand for the company’s properties.

Considering the improved performance of the company. On March 25, Wolfe Research upgraded Empire State Realty Trust, Inc. (NYSE:ESRT) to Outperform from Peer Perform with a $10 price target. It is one of the billionaire Mason Hawkins’ 10 small-cap stocks with huge upside potential.