American Strategic Investment Co. NYC: buys shares worth $19,216

American Strategic Investment Co. (NYSE:NYC), currently trading at $9.28 and showing signs of undervaluation according to InvestingPro analysis, saw several purchases of its Class A common stock between June 13 and June 17, 2025. According to a Form 4 filing, the purchases totaled $19,216. The company trades at just 0.32 times book value, though it operates with a significant debt burden.

The transactions involved the acquisition of shares at prices ranging from $9.76 to $10.10, within the stock’s 52-week range of $7.55 to $13.59. On June 13, 703 shares were purchased. This was followed by the acquisition of 611 shares on June 16, and another 611 shares on June 17.

These transactions were made by Bellevue Capital Partners (WA:CPAP), LLC, who is the ultimate controlling person of the Advisor, and has voting and investment discretion with respect to the securities held of record by the Advisor. Nicholas S. Schorsch is the sole managing member of Bellevue Capital Partners, LLC. Following these transactions, Bellevue Capital Partners, LLC directly owns 1,003,008 shares of Class A common stock. Mr. Nicholas S. Schorsch directly owns 26,559 shares of Class A common stock and indirectly owns 520,666 shares. For deeper insights into insider trading patterns and 14 additional key metrics, check out the comprehensive NYC research report on InvestingPro.

In other recent news, American Strategic Investment Company (ASIC) reported a significant decline in its first-quarter 2025 revenue, which fell to $12.3 million from $15.5 million in the same period last year. The company also experienced a widened GAAP net loss of $8.6 million, compared to a $7.6 million loss in Q1 2024. Despite these financial setbacks, ASIC is implementing strategic initiatives, including marketing two properties for sale, to reduce leverage and diversify its portfolio. The company aims to use proceeds from these sales to retire debt and invest in higher-yielding assets.

Occupancy rates improved by 120 basis points to 82%, reflecting some resilience in the Manhattan real estate market where ASIC primarily operates. The company is planning to further engage with both new and existing tenants, expecting to close additional leasing and renewals in the second quarter. Analysts have not provided any recent upgrades or downgrades for the company, but the focus remains on strategic asset management. CEO Nick Shorz, Jr. emphasized the importance of these strategic moves in enhancing shareholder value. The upcoming virtual annual shareholders meeting on May 29, 2025, is expected to provide further insights into these initiatives.

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