New York City REIT (NYC)
NYSE:NYC
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New York City REIT
(NYSE:NYC)
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Rating:48Neutral
Price Target:
$9.00
▼(-2.70% Downside)
Action:Reiterated
Date:05/22/26
The score is held down primarily by weak financial performance (shrinking revenue, persistent net losses, and consistently negative operating/free cash flow) and elevated balance-sheet risk signals in recent annual reports. Technicals offer some near-term support (price above key short/intermediate moving averages and positive MACD), but the longer-term trend remains soft (below the 200-day). Earnings call tone is mixed, with clear strategic actions and some improvements, but ongoing revenue pressure, thin profitability, and refinancing/occupancy risks keep the overall score below average.
Positive Factors
High tenant credit quality and long lease durations
A tenant base weighted toward investment-grade credits with multi-year lease expirations provides durable cash-flow visibility and lowers default risk. Longer WALT and a majority of leases extending beyond 2030 reduce near-term rollover exposure, supporting steadier rent rolls during the portfolio repositioning.
Negative Factors
Shrinking recurring revenue and negative cash flow
A sustained decline in recurring rental revenue and persistent negative operating and free cash flow undermine the REIT's ability to self-fund expenditures, cover fixed costs, or resume distributions. Continued reliance on one-off disposals or financing increases execution risk and limits long-term financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
High tenant credit quality and long lease durations
A tenant base weighted toward investment-grade credits with multi-year lease expirations provides durable cash-flow visibility and lowers default risk. Longer WALT and a majority of leases extending beyond 2030 reduce near-term rollover exposure, supporting steadier rent rolls during the portfolio repositioning.
Read all positive factors
New York City REIT (NYC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.02M
Dividend YieldN/A
Average Volume (3M)3.69K
Price to Earnings (P/E)―
Beta (1Y)0.65
Revenue Growth-34.20%
EPS Growth84.89%
CountryUS
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)-8.45
Shares Outstanding2,919,885
10 Day Avg. Volume4,290
30 Day Avg. Volume3,685
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.33
Price to Sales (P/S)0.49
P/FCF Ratio-2.48
Enterprise Value/Market Cap14.37
Enterprise Value/Revenue9.76
Enterprise Value/Gross Profit156.40
Enterprise Value/Ebitda19.49
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-7.43
Revenue Forecast (FY)$58.53M
New York City REIT Business Overview & Revenue Model
Company Description
American Strategic Investment Co. is a publicly traded real estate investment trust that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City, particularly Manhattan. Its portfolio is diversifie...
How the Company Makes Money
New York City REIT primarily makes money by leasing space in its properties to tenants under commercial lease agreements. The main revenue stream is rental income (base rent) paid by tenants for the right to occupy office or other commercial space...
New York City REIT Earnings Call Summary
Earnings Call Date:Apr 15, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Neutral
The call presents a mix of positive strategic moves and financial improvements alongside meaningful operational challenges. Positives include a substantial one-time disposition gain, marked year-over-year improvement in GAAP net loss, a high proportion of investment-grade tenants, executed leasing in resilient sectors, and a debt profile locked to fixed rates. Offsetting these are material declines in recurring revenue driven by asset sales, modest adjusted EBITDA and cash NOI, suboptimal occupancy (80.3%), short average debt term (1.5 years) that creates refinancing risk, and unchanged quarterly net loss. Overall, management is pursuing portfolio pruning and asset sales to redeploy capital, but near-term operating performance and revenue base remain under pressure.Positive Updates
Significant One-Time Gain from Disposition
Recognized a $46.6 million gain in connection with the disposition and cooperative consensual foreclosure related to 1140 Avenue of the Americas, reflected in the year-end statements of operations.
Negative Updates
Revenue Decline Year-over-Year and Quarter-over-Quarter
Full-year revenue declined to $43.3 million from $61.6 million in 2024 (a decrease of approximately 29.7%), largely due to property dispositions; Q4 revenue fell to $6.5 million from $14.9 million in Q4 2024 (down ~56.4%).
Read all updates
Q4-2025 Updates
Positive
Negative
Significant One-Time Gain from Disposition
Recognized a $46.6 million gain in connection with the disposition and cooperative consensual foreclosure related to 1140 Avenue of the Americas, reflected in the year-end statements of operations.
Read all positive updates
Company Guidance
Management guided that it will prioritize tenant retention, property improvements, cost efficiency and pruning non‑core assets—leasing up available space, renewing leases, replacing maturing debt and pursuing targeted dispositions (including potential sales of 123 William Street and 196 Orchard) to generate cash for higher‑yielding, accretive investments; notable metrics cited: a $382.6 million, 0.7 million sq. ft., 5‑asset NYC portfolio at 80.3% occupancy with a weighted average remaining lease term of 6.1 years, top‑10 tenants representing 69% investment or implied investment grade with a 6.9‑year WALT, 57% of leases now extending beyond 2030 (up from 56% last quarter) and 2026 lease expirations of only 5% of annualized straight‑line rent; operating activity included 13 new/replacement leases totaling 117,000 sq. ft., the sale of 1140 Avenue of the Americas (recognizing a $46.6 million gain), FY2025 revenue $43.3 million (Q4 $6.5 million), GAAP net loss attributable to common of $21.2 million (Q4 net loss $6.7 million), adjusted EBITDA $0.3 million for the year ($1.2 million Q4), cash NOI $16.0 million for the year ($1.8 million Q4), and a conservative balance sheet with net debt $249.7 million, net leverage 47.5%, weighted average effective interest rate 4.5% and a 1.5‑year weighted average remaining debt term (100% fixed or swapped to fixed).New York City REIT Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
16
Very Negative
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 43.27M | 61.57M | 62.71M | 64.00M | 70.22M |
| Gross Profit | 8.54M | 19.63M | 21.23M | 23.00M | 29.30M |
| EBITDA | 17.22M | -102.69M | -60.53M | 1.69M | 10.72M |
| Net Income | -21.19M | -140.59M | -105.92M | -45.90M | -39.47M |
Balance Sheet | |||||
| Total Assets | 445.16M | 507.07M | 694.17M | 790.46M | 823.05M |
| Cash, Cash Equivalents and Short-Term Investments | 1.30M | 9.78M | 5.29M | 10.82M | 11.67M |
| Total Debt | 349.92M | 403.14M | 452.42M | 451.88M | 457.11M |
| Total Liabilities | 380.40M | 421.48M | 469.38M | 468.88M | 471.92M |
| Stockholders Equity | 64.76M | 85.59M | 224.79M | 301.06M | 338.99M |
Cash Flow | |||||
| Free Cash Flow | -8.51M | -5.29M | -11.46M | -6.04M | -11.29M |
| Operating Cash Flow | -7.75M | -4.00M | -7.41M | -486.00K | -7.92M |
| Investing Cash Flow | -3.79M | 59.86M | 71.00K | -5.55M | -3.38M |
| Financing Cash Flow | 650.00K | -49.73M | 4.03M | -6.27M | -275.00K |
New York City REIT Technical Analysis
Negative
9.25
Price Trends
8.55
Positive
8.84
Negative
9.07
Negative
Market Momentum
0.24
Positive
46.59
Neutral
11.92
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NYC, the sentiment is Negative. The current price of 9.25 is above the 20-day moving average (MA) of 8.94, above the 50-day MA of 8.55, and above the 200-day MA of 9.07, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 46.59 is Neutral, neither overbought nor oversold. The STOCH value of 11.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NYC.
New York City REIT Risk Analysis
New York City REIT disclosed 59 risk factors in its most recent earnings report. New York City REIT reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
New York City REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
55 Neutral | $167.08M | -1.18 | -21.93% | 7.34% | -6.30% | -65.48% | |
48 Neutral | $26.02M | -1.08 | -35.64% | ― | -34.20% | 84.89% | |
47 Neutral | $58.08M | -1.65 | -5.41% | 4.71% | -8.09% | 50.44% | |
43 Neutral | $12.84M | -0.05 | -13.44% | ― | -7.43% | 88.54% |
* Real Estate Sector Average
NYC
New York City REIT
8.58
-1.08
-11.18%
FSP
Franklin Street Properties
0.53
-1.25
-70.33%
CMCT
Creative Media
4.54
-770.46
-99.41%
ONL
Orion Office REIT
2.98
1.14
61.78%
NLOP
Net Lease Office Properties
12.01
1.99
19.90%
New York City REIT Corporate Events
Business Operations and StrategyFinancial Disclosures
American Strategic Investment Highlights Q1 2026 Strategic Progress
Negative
May 15, 2026
American Strategic Investment Co., listed on the NYSE as NYC, is a New York City-focused owner and operator of office and retail properties, managing a $388 million portfolio of about 743,000 square feet across five assets, mostly in Manhattan. Th...
Business Operations and StrategyFinancial Disclosures
American Strategic Investment Highlights Q1 Portfolio Strategy Shift
Positive
May 15, 2026
On May 15, 2026, American Strategic Investment Co. released a first-quarter investor presentation outlining the performance of its Manhattan-centric real estate portfolio and upcoming strategic moves. The company emphasized a tenant roster anchore...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
American Strategic Investment Co. Highlights Liquidity Preservation Efforts
Negative
May 15, 2026
On May 15, 2026, American Strategic Investment Co. reported first-quarter 2026 results showing revenue falling to $7.3 million from $12.3 million a year earlier, mainly due to the prior-year sale of 1140 Avenue of the Americas. The company’s...
Business Operations and StrategyFinancial Disclosures
American Strategic Investment Sets Date for Q1 Results
Neutral
May 8, 2026
On May 8, 2026, American Strategic Investment Co. announced it would publish its financial results for the first quarter ended March 31, 2026 on May 15, 2026, before the New York Stock Exchange opens. The company said it would host a webcast and c...
Business Operations and StrategyPrivate Placements and Financing
Equity Issuance Settles Advisory Fees, Preserves Liquidity
Neutral
May 1, 2026
On April 30, 2026, American Strategic Investment Co.’s compensation committee approved the settlement of $1,910,169.12 in accrued advisory fees owed to New York City Advisors, LLC by issuing 232,098 shares of its Class A common stock under t...
Business Operations and StrategyFinancial Disclosures
American Strategic Outlines 2025 Results and Portfolio Strategy
Positive
Apr 15, 2026
On April 15, 2026, American Strategic Investment Co. held its fourth-quarter and full-year 2025 earnings call, highlighting continued efforts to unlock value in its New York City portfolio through tenant retention, property improvements, cost cont...
Business Operations and StrategyFinancial Disclosures
American Strategic Investment Highlights 2025 Results and Strategy
Negative
Apr 15, 2026
On April 15, 2026, American Strategic Investment Co. reported fourth-quarter and full-year 2025 results showing the impact of its ongoing portfolio reshaping, including the 2024 sale of 9 Times Square and the 2025 transfer of 1140 Avenue of the Am...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
American Strategic Investment Details Strategic Portfolio Repositioning Plan
Neutral
Apr 15, 2026
On April 15, 2026, American Strategic Investment Co. released a fourth-quarter 2025 investor presentation detailing a Manhattan-centered portfolio of five mixed-use office and retail properties totaling 0.7 million square feet and generating $28.6...
Financial Disclosures
New York City REIT Schedules Q4 and 2025 Results
Neutral
Apr 10, 2026
American Strategic Investment Co. announced on April 10, 2026, that it would release financial results for the fourth quarter and full year ended December 31, 2025, on Wednesday, April 15, 2026, before the New York Stock Exchange opens. The compan...
Financial DisclosuresRegulatory Filings and Compliance
American Strategic Investment Reschedules 2025 Earnings Release Date
Neutral
Mar 26, 2026
American Strategic Investment Co., which trades on the NYSE as NYC, is a commercial real estate owner focused on properties across the five boroughs of New York City. Its portfolio centers on income-generating assets in this major metropolitan mar...
Business Operations and StrategyFinancial Disclosures
New York City REIT Sets Date for Q4 Results
Neutral
Mar 9, 2026
On March 9, 2026, American Strategic Investment Co. announced it will report financial results for the fourth quarter and full year ended December 31, 2025, before the market opens on March 26, 2026. The company will host a webcast and conference ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.