American strategic investment co. sees $36,915 in stock purchases

NEW YORK—American Strategic Investment Co. (NYSE:NYC), currently valued at $27.8 million in market capitalization, recently reported stock transactions involving significant purchases by Nicholas S. Schorsch and associated entities. Over the course of three days, Schorsch and related parties acquired shares of Class A common stock valued at a total of $36,915. The company trades at a notably low Price/Book ratio of 0.35, according to InvestingPro data.

The purchases were made at prices ranging from $10.54 to $11.35 per share, with the stock now trading at $11.45. These transactions, executed on March 26, 27, and 28, reflect continued investment by Schorsch, who is a ten percent owner through Bellevue Capital Partners (WA:CPAP), LLC, and other related entities. The stock has shown strong momentum, delivering an 80% return over the past year.

Following these transactions, the total shares owned by Schorsch and his affiliates increased to 975,492. The purchases underscore ongoing interest and investment in American Strategic Investment Co., a real estate investment trust with a focus on strategic investments in New York City. While the company maintains healthy liquidity with a current ratio of 2.36, InvestingPro analysis reveals 14 additional key insights about NYC’s financial health and growth prospects.

In other recent news, American Strategic Investment Co. reported its fourth-quarter 2024 earnings, revealing a decrease in revenue to $14.9 million from $15.4 million in the same quarter of the previous year. The company’s full-year net loss increased to $140.6 million, up from $105.9 million in 2023. Despite these financial challenges, the company has seen a boost in investor confidence due to strategic property sales and new lease agreements. American Strategic Investment Co. announced a CEO transition, with Nick Shor, Jr. set to succeed Michael Anderson. The company is actively pursuing a strategy to diversify beyond Manhattan real estate and expand its portfolio. Additionally, the firm is working on selling two properties, 123 William Street and 196 Orchard, to strengthen its cash position. Analysts have noted the company’s focus on securing tenants in resilient industries, such as financial services and medical institutions. The company maintains a conservative balance sheet with 100% fixed-rate debt.

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