American Strategic Investment Co. Stock Price, News & Analysis

New York City REIT, Inc. (NYSE: NYC) reported financial results for Q3 2022, revealing a revenue increase to $15.9 million from $15.8 million year-over-year. The net loss attributable to common stockholders was stable at $11.1 million. Cash net operating income rose to $6.2 million, while Funds from Operations (FFO) and Core FFO were negative $4.1 million and negative $1.9 million, respectively. The company collected 99% of original cash rent due, up from 92% in Q3 2021. Portfolio occupancy stood at 85%, with a weighted-average lease term of 7.3 years.

New York City REIT, Inc. (NYSE: NYC) will report its third-quarter financial results for the period ending September 30, 2022, on Thursday, November 10, 2022, before market opening. Following the release, the company will host a conference call at 11:00 a.m. ET that day, where management will discuss the results and answer questions from analysts and investors. Interested parties can listen live via the NYC website or dial in using the provided toll-free numbers. A replay will be available until February 10, 2023.

New York City REIT, Inc. (NYSE: NYC) announced the acquisition of 784,105 shares of its Class A common stock by its advisor and affiliates. On September 2, 2022, they purchased 632,911 shares, now owning over 2.6 million shares in total. This $2 million investment reinforces the advisor's commitment to enhancing NYC's balance sheet for future needs. Lead Independent Director Betty Tuppeny highlighted this purchase as a strong vote of confidence amidst market turbulence, reflecting NYC's robust business plan and operational success.

New York City REIT, Inc. (NYSE: NYC) has signed a new lease with Edgewood Partners Insurance Center, expanding their office space at 1140 Avenue of the Americas.

The 10.5-year lease includes annualized rent of approximately $1.3 million, reflecting a 50% increase in EPIC's footprint.

This strategic move aims to solidify NYC’s portfolio in the competitive New York market, enhancing rental income stability.

New York City REIT (NYSE: NYC) reported a revenue increase to $16.2 million for Q2 2022, up from $15.0 million year-over-year. However, the net loss attributable to common stockholders was $11.3 million, slightly higher than last year's $11.1 million. Cash net operating income rose to $7.0 million. The company collected 98% of original cash rent due, and occupancy improved to 85%. Total debt remains fixed-rate with no maturities until the end of 2023, indicating financial stability amidst operational challenges.

New York City REIT, Inc. (NYSE: NYC) will release its financial results for Q2 on August 12, 2022, before NYSE trading begins. A conference call will follow at 11:00 a.m. ET to discuss the results and answer analyst and investor questions. Dial-in details for the call are provided, and a replay will be available post-broadcast. The REIT focuses on high-quality commercial properties in New York City.

This earnings release is anticipated by investors and analysts for insights into the company's performance.

New York City REIT, Inc. (NYSE: NYC) reported a 4% increase in portfolio occupancy, reaching over 87% as of June 30, 2022. The weighted-average lease term rose to 7.2 years. To enhance liquidity for future leasing activities, the board has decided to temporarily suspend the quarterly dividend. This move is aimed at funding leasing commissions and tenant improvements, with $76 million in base rent expected from new leases. The suspension will be evaluated quarterly, and 98% cash rent collection was achieved in Q1 2022.

New York City REIT, Inc. (NYSE: NYC) announced the execution of one new lease and three lease renewals, significantly enhancing its portfolio. The new lease covers 4,700 square feet at 9 Times Square, replacing the former Knotel space. The renewals include two 15-year leases and a 10-year lease with the Government Services Administration (GSA) at 123 William Street. Combined, these leases will generate over $4.2 million in annualized rent, with $1 million attributed to new revenue. These actions reflect NYC's ongoing leasing momentum and proactive asset management strategy.

New York City REIT, Inc. (NYSE: NYC) has achieved the WELL Health-Safety Rating for its properties located at 9 Times Square, 1140 Avenue of the Americas, and 123 William Street. This certification, awarded by the International WELL Building Institute, focuses on maintaining safe work environments post-COVID-19 and emphasizes air and water quality management, health resources, and emergency preparedness. CEO Michael Weil highlighted the achievement as indicative of exceptional management, complementing prior accolades like the BOMA Building of the Year award.