American Strategic Investment Co. Stock Price, News & Analysis

New York City REIT, Inc. (NYSE: NYC) announced the re-election of Elizabeth Tuppeny to its Board of Directors during the Annual Meeting of Stockholders on May 31, 2022. Her extensive experience is expected to enhance the company’s value for shareholders, according to Michael Weil, Chairman and CEO. Additionally, shareholders ratified PricewaterhouseCoopers LLP as the independent auditor for fiscal 2022, did not approve an advisory vote on executive compensation, and approved a yearly advisory vote frequency for executive compensation assessments. Full details will be reported in a Form 8-K.

New York City REIT (NYSE: NYC) has urged shareholders to vote for Elizabeth Tuppeny's reelection at the upcoming May 31, 2022 Annual Meeting. Tuppeny's leadership has contributed to a stable annual dividend of $0.40 per share and a remarkable 70% total return since January 1, 2021, significantly outperforming the S&P 500. The company also reports strong leasing activity, including recent non-binding LOIs totaling over $650,000 in annual rent. NYC emphasizes the need to support Tuppeny to safeguard shareholder value and achieve continued success.

New York City REIT, Inc. (NYSE: NYC) has signed two non-binding letters of intent for leases totaling over 13,500 square feet at 9 Times Square, generating $650,000 in annual base rent with an average lease term of 3.7 years. This move is expected to boost occupancy at 9 Times Square from 62% to 70% and improve overall portfolio occupancy from 84.4% to 85.6%. The CEO attributes these results to a proactive asset management strategy, indicating positive leasing momentum for the company.

Comrit Investments, a long-term stockholder of New York City REIT (NYSE: NYC), emphasizes the lack of independence within the board and its ties to AR Global, the ultimate advisor for NYC REIT. The press release highlights past decisions favoring management over stockholders. Notably, Institutional Shareholder Services Inc. (ISS) recommends voting for Comrit's independent director candidate, Sharon Stern, at the upcoming Annual Meeting on May 31, 2022. This call for change aims to align the board’s interests with those of the shareholders.

New York City REIT (NYSE: NYC) has urged shareholders to vote the GOLD Proxy Card in the upcoming director election on May 31, 2022. The company supports Elizabeth Tuppeny as the superior candidate for the board, citing her extensive experience and strong performance, which includes a total return of 70% from January 2021 to April 2022, outperforming the S&P 500. In contrast, it criticized Comrit's nominee for lacking relevant experience and warned that her election could jeopardize NYC’s ongoing momentum and dividend stability.

Comrit Investments 1, LP announces ISS's support for nominee Sharon Stern to New York City REIT, Inc. (NYSE: NYC) board. The ISS report cites NYC's TSR underperformance, discount to NAV, and governance flaws as grounds for change. Comrit urges stockholders to vote on the WHITE proxy card to restore accountability in the boardroom. ISS acknowledges the necessity for an independent director like Stern, who has relevant experience in real estate and governance. Comrit emphasizes the urgency for stockholder value preservation.

New York City REIT, Inc. (NYSE: NYC) has urged shareholders to vote for the reelection of Elizabeth Tuppeny as a board member over Comrit's nominee, Sharon Stern, citing Tuppeny's extensive experience in real estate and corporate governance. NYC emphasizes the importance of voting the GOLD proxy card to maintain the company's strong performance and dividend payouts. The letter highlights Tuppeny's qualifications while criticizing Stern's lack of relevant experience. Shareholders are encouraged to disregard any proxy from Comrit.

New York City REIT, Inc. (NYSE: NYC) reported Q1 2022 results showing a revenue increase to $15.6 million, up from $15.2 million in Q1 2021. The net loss decreased to $11.1 million compared to $13.5 million last year. Cash NOI rose slightly to $5.7 million. Funds from Operations (FFO) improved to negative $4.1 million, while Core FFO also improved to negative $2.0 million. Rent collection was strong at 98%. Portfolio occupancy rose to 84.4%, with a weighted-average lease term of 6.8 years. The company reports a total return of 71.8% since January 2021.

New York City REIT (NYSE: NYC) has highlighted its strong performance in 2021, achieving a total return of 37%, which outperformed the S&P 500 by 6% and other NYC-focused REITs by 24%. The REIT successfully navigated the challenges of the COVID-19 pandemic with robust leasing activity, completing 17 new leases and increasing cash rent collection rates from 82% to 96%. NYC is urging shareholders to vote the GOLD proxy card to ensure continued positive momentum and to re-elect Elizabeth Tuppeny, emphasizing the experience and stability of the current Board amidst a challenging proxy contest with Comrit Investments.