New York City REIT (NYC)
NYSE:NYC
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New York City REIT
(NYSE:NYC)
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Rating:45Neutral
Price Target:
$7.50
▼(-18.92% Downside)
Action:ReiteratedDate:04/16/26
The score is weighed down primarily by weak financial performance (losses, negative operating/free cash flow, and historically high leverage) and a bearish technical setup (below key moving averages with negative MACD). Earnings-call commentary provides some offset via portfolio actions and tenant quality, but near-term fundamentals remain pressured, and valuation is difficult to support with negative earnings and no stated dividend yield.
Positive Factors
Tenant credit & lease term stability
A high share of investment‑grade tenants and multi‑year weighted average lease terms materially reduce rollover and default risk. This durable tenant quality supports steadier contractual cash rents and enhances predictability of cash flows across 2–6+ month horizons and during refinancing or disposition planning.
Negative Factors
Persistent negative cash generation
Multi‑year negative operating and free cash flow means the business cannot self‑fund operations or capex, increasing dependence on asset sales and external financing. Over months this elevates liquidity and execution risk, constraining flexibility to invest in leasing or property improvements without raising capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Tenant credit & lease term stability
A high share of investment‑grade tenants and multi‑year weighted average lease terms materially reduce rollover and default risk. This durable tenant quality supports steadier contractual cash rents and enhances predictability of cash flows across 2–6+ month horizons and during refinancing or disposition planning.
Read all positive factors
New York City REIT (NYC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$21.62M
Dividend YieldN/A
Average Volume (3M)3.69K
Price to Earnings (P/E)―
Beta (1Y)0.81
Revenue Growth-29.54%
EPS Growth84.24%
CountryUS
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)-2.62
Shares Outstanding2,692,941
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 Cap17.15
Enterprise Value/Revenue8.57
Enterprise Value/Gross Profit43.44
Enterprise Value/Ebitda21.54
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
NYC REIT primarily makes money by leasing space in its New York City commercial properties to tenants under lease agreements and collecting contractual rental payments. Revenue is generated from (1) base rent (fixed contractual rent paid by tenant...
New York City REIT Earnings Call Summary
Earnings Call Date:Apr 15, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 08, 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
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Dec 2025 | 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
Neutral
9.25
Price Trends
8.48
Negative
8.61
Negative
9.83
Negative
Market Momentum
-0.15
Positive
47.57
Neutral
13.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NYC, the sentiment is Neutral. The current price of 9.25 is above the 20-day moving average (MA) of 8.32, above the 50-day MA of 8.48, and below the 200-day MA of 9.83, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 47.57 is Neutral, neither overbought nor oversold. The STOCH value of 13.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NYC.
New York City REIT Risk Analysis
New York City REIT disclosed 62 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% | |
53 Neutral | $160.83M | -0.91 | -20.16% | 7.34% | -10.43% | -34.31% | |
46 Neutral | $65.43M | -1.81 | -7.25% | 4.71% | -8.09% | 50.44% | |
45 Neutral | $21.62M | -1.00 | -31.38% | ― | -29.54% | 84.24% | |
42 Neutral | $14.81M | -0.87 | -13.44% | ― | -6.41% | 87.31% |
* Real Estate Sector Average
NYC
New York City REIT
8.03
-3.30
-29.13%
FSP
Franklin Street Properties
0.63
-0.91
-59.08%
CMCT
Creative Media
5.61
-551.39
-98.99%
ONL
Orion Office REIT
2.83
1.07
60.34%
NLOP
Net Lease Office Properties
12.93
3.23
33.26%
New York City REIT Corporate Events
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.