JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
American Strategic Investment Co. (NYSE:NYC) saw significant insider buying activity as disclosed in a recent SEC filing. Nicholas S. Schorsch, along with entities affiliated with him, acquired a total of 4,467 shares of Class A common stock over several transactions. The purchases, made between April 3 and April 7, 2025, amounted to $49,802. The timing appears notable, as NYC shares have delivered a 69.5% return over the past year, with the stock currently trading at $11.01.
The shares were acquired at prices ranging from $10.74 to $12.05 per share, reflecting a strategic move by Schorsch and his affiliates to increase their holdings in the company. Following these transactions, the total number of shares owned by the reporting parties stands at 984,168. According to InvestingPro, the company trades at a low Price/Book multiple of 0.34, with analysis suggesting potential undervaluation.
This activity highlights Schorsch's continued interest and investment in American Strategic Investment Co., which operates as a real estate investment trust. InvestingPro analysis reveals the company maintains a WEAK Financial Health Score of 1.67, with 14 additional key insights available to subscribers through detailed Pro Research Reports.
In other recent news, American Strategic Investment Co. reported its fourth-quarter 2024 earnings, revealing a mixed financial performance. The company experienced a decline in revenue, with Q4 revenue decreasing to $14.9 million from $15.4 million in the same quarter of the previous year. Additionally, the full-year net loss increased to $140.6 million, up from $105.9 million in 2023. Despite these challenges, strategic property sales and new leases have contributed to investor optimism. The company completed the sale of 9 Times Square, which improved its balance sheet and strengthened its cash position. In a significant leadership change, Nick Shor, Jr. has been appointed as the new CEO, succeeding Michael Anderson. The company continues to focus on diversifying its investments beyond Manhattan real estate and is actively building a pipeline of new and renewal leases to enhance portfolio occupancy. Analyst firms have not provided a recent upgrade or downgrade for the company, but the strategic initiatives and leadership transition are key areas of interest for stakeholders.
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