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New York City REIT ( (NYC) ) just unveiled an announcement.
American Strategic Investment Co. reported its financial results for the fourth quarter and full year ending December 31, 2024. The company experienced a decrease in revenue to $14.9 million for the fourth quarter, partly due to the sale of 9 Times Square, and a net loss of $6.7 million. For the full year, revenue was $61.6 million with a net loss of $140.6 million. Despite these losses, the company improved its Cash Net Operating Income and maintained a conservative balance sheet with 100% fixed-rate debt. The company is focused on asset diversification and leasing to high-quality tenants.
More about New York City REIT
American Strategic Investment Co. (NYSE: NYC) owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City.
YTD Price Performance: 9.56%
Average Trading Volume: 6,551
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $25.33M
Learn more about NYC stock on TipRanks’ Stock Analysis page.