Welcome to our dedicated page for American Strategic Investment Co. news (Ticker: NYC), a resource for investors and traders seeking the latest updates and insights on American Strategic Investment Co. stock.
American Strategic Investment Co. (NYSE: NYC) is an externally managed company dedicated to owning and managing a diverse portfolio of commercial real estate assets located within New York City's five boroughs, with a significant focus on Manhattan. ASIC's real estate assets include office properties, retail spaces, and other amenities that complement these office properties.
Recently, ASIC has attracted attention due to a tender offer from Bellevue Capital Partners, LLC. On May 7, 2024, Bellevue announced a tender offer to purchase up to 125,000 shares of ASIC common stock at $9.25 per share. This offer, representing a 67% premium to the stock’s closing price on May 3, 2024, underscores Bellevue’s confidence in ASIC's robust portfolio and its strategic investment plans. The tender offer is set to close on July 5, 2024.
Further bolstering this sentiment, Bellevue increased the purchase price to $10.25 per share on May 23, 2024, which reflects a 77% premium to the previously referenced closing price. This increase signals Bellevue’s continued faith in ASIC's long-term value and the strategic direction of its expanded investment strategy.
ASIC's core business revolves around the management and optimization of its commercial real estate portfolio. The company’s properties are strategically located to maximize value and tenant satisfaction. By focusing on prime locations within New York City, ASIC ensures high occupancy rates and stable rental income, thereby providing a steady return on investment.
ASIC's financial health remains robust, with a strong balance sheet and consistent cash flows generated from its well-maintained properties. The company's strategic partnerships and proactive asset management approach allow it to capitalize on market opportunities and mitigate risks effectively. With a proven track record and a clear vision for growth, ASIC continues to be a significant player in the commercial real estate sector.
To stay updated on the latest developments and performance of American Strategic Investment Co., investors can access current news and updates through various financial news platforms.
New York City REIT (NYSE: NYC) reported its Q1 2021 financial results, revealing revenue of $15.2 million, down from $17.5 million in Q1 2020, but an increase from $9.9 million in Q4 2020. The net loss attributable to common stockholders was $13.5 million, compared to $6.8 million in the prior year. The company's cash net operating income dipped to $5.6 million. Portfolio occupancy stood at 82.8%, with 85% of cash rent collected. Despite challenges, management expresses optimism about asset management strategies as NYC reopens.
New York City REIT, Inc. (NYSE: NYC) will announce its financial results for Q1 2021 on May 13, 2021, before the NYSE opens. A conference call will follow at 11:00 a.m. ET, featuring management commentary on performance and a Q&A session for analysts and investors. Interested parties can access the live webcast through the Company’s Investor Relations webpage. Dial-in details for the call are provided for both domestic and international participants, along with replay options available after the event until August 13, 2021.
New York City REIT, Inc. (NYSE: NYC) has confirmed its commitment to pay dividends of $0.10 per share quarterly, amounting to an annualized rate of $0.40. The next dividend is set for April 15, 2021, for common stockholders of record by April 12, 2021. These dividends will be paid in arrears on the 15th of the first month following each fiscal quarter to shareholders on record. NYC operates a portfolio of premier commercial real estate across New York City's five boroughs.
New York City REIT (NYSE: NYC) reported its financial results for Q4 and the year ending December 31, 2020, highlighting a revenue of $9.9 million and a net loss of $16.6 million, or $1.30 per share. The company collected 82% of cash rent due, with 89% from top tenants. Portfolio occupancy was 87%, down from 89.6% YoY. Notably, it executed leases with a Fortune 50 company, expected to increase annual gross rent by over $1.2 million. Despite challenges, NYC maintains a conservative balance sheet with a net leverage of 37.3% and no debt maturities for three years.
New York City REIT, Inc. (NYSE: NYC) will announce its financial results for the fourth quarter and full year ended December 31, 2020, on March 16, 2021, prior to market opening. The company will hold a conference call at 11:00 a.m. ET on the same day, featuring a discussion on performance and a Q&A session. Due to high call volumes and COVID-19 impacts, participants are encouraged to join via the webcast. More details can be found on the company’s website under 'Investor Relations.'
New York City REIT, Inc. (NYSE: NYC) announced its intention to continue paying dividends at an annualized rate of $0.40 per share, or $0.10 per share quarterly. NYC has declared a dividend of $0.10 per share on its Class A and Class B common stock, payable on January 15, 2021, to shareholders of record as of January 11, 2021. Dividends will be paid quarterly in arrears on the 15th day of the first month following each fiscal quarter’s end.
New York City REIT, Inc. (NYSE: NYC) reported a net loss of $12.3 million for Q3 2020, up from $4.8 million in Q3 2019, with revenues of $17.0 million, down from $18.6 million. The company achieved cash net operating income (NOI) of $6.1 million, a decline from $8.8 million year-over-year. Despite challenges from the COVID-19 pandemic, NYC collected 85% of cash rent due. Portfolio occupancy stood at 88.6%, with significant lease extensions adding $60 million in future revenue. The company ended Q3 with a strong balance sheet, featuring net leverage of 36.2% and no near-term debt maturities.
New York City REIT, Inc. (NYSE: NYC) will release its third quarter financial results for the period ending September 30, 2020, on November 12, 2020, prior to market opening. Following the release, management will host a conference call at 11:00 a.m. ET to discuss the results and provide insights into business performance. Interested parties can access the call via the NYC website, with an option for a replay available after the event through February 12, 2021. This announcement comes amid ongoing challenges posed by the COVID-19 pandemic.
New York City REIT, Inc. (NYSE: NYC) announced an annualized dividend rate of $0.40 per share, translating to $0.10 quarterly. It declared a specific dividend of $0.04889 per share for the period from August 18, 2020 to September 30, 2020, payable on October 15, 2020. Record holders as of October 12, 2020 will receive this dividend. Dividends will be paid in arrears on the 15th of the first month following each fiscal quarter, subject to board approval.
New York City REIT (NYSE: NYC) announced a 10-year lease extension with City National Bank (CNB) for their space at 1140 Avenue of the Americas, extending occupancy until 2033. CNB, an investment-grade company, has been a tenant since 2012, occupying 35,643 square feet including ground and upper floors. The lease reflects NYC's strategy of maintaining high occupancy with strong tenants. The collaboration involved teams from Avison Young and CBRE, and a new air conditioning system will support employee and customer well-being.
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