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In a challenging economic climate, Empire State Realty (NYSE:ESRT) OP LP (OGCP) stock has reached a 52-week low, dipping to $8.08. This latest price level reflects a persistent downtrend for the real estate investment trust, with a year-to-date decline of 10%. Despite the price weakness, InvestingPro data shows the company maintains strong fundamentals with a current ratio of 3.38 and an attractive free cash flow yield of 11%. Investors are closely monitoring the company’s performance as it navigates through the headwinds of a volatile real estate market. Notable strengths include a 13-year track record of consistent dividend payments, currently yielding 1.56%, and steady revenue growth of 3.19% over the last twelve months. For deeper insights into OGCP’s valuation and additional financial metrics, InvestingPro subscribers have access to over 30 key indicators and exclusive analysis.
In other recent news, Empire State Realty Trust has declared its dividends for the first quarter of 2025. Stockholders of Class A and Class B common stock, along with holders of various operating partnership units, will receive a dividend of $0.035 per share. Additionally, a dividend of $0.15 per unit is set for holders of the Series 2014 Private Perpetual Preferred Units, and $0.175 per unit for the Series 2019 Private Perpetual Preferred Units. These dividends are scheduled to be distributed in cash on March 31, 2025, to those recorded as stockholders or unitholders by March 14, 2025. This announcement highlights the company’s ongoing practice of returning value to its investors through regular dividends. Empire State Realty Trust emphasizes its commitment to maintaining shareholder dividends as part of its broader financial strategy. The company has noted that these actions are part of their regular financial operations, while also acknowledging potential risks and uncertainties in forward-looking statements.
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