American strategic investment co. sees $58k in stock purchases

Nicholas S. Schorsch, a significant shareholder in American Strategic Investment Co. (NYSE:NYC), recently increased his stake in the company. According to a Form 4 filing with the Securities and Exchange Commission, Schorsch purchased a total of 4,983 shares of Class A common stock over the course of several transactions from April 8 to April 10, 2025. The shares were acquired at prices ranging from $11.50 to $11.93 per share, totaling approximately $58,349. The timing appears strategic, as InvestingPro data shows the stock has delivered an impressive 93.79% return over the past year and is currently trading near its 52-week high of $12.52.

The transactions highlight Schorsch's continued investment in American Strategic Investment Co., a real estate investment trust based in Newport, Rhode Island. Schorsch, through his affiliation with Bellevue Capital Partners (WA:CPAP), LLC, and other related entities, has been actively involved in the company's operations and investment strategies. InvestingPro analysis indicates the company is currently undervalued, though it operates with significant debt and faces cash flow challenges. The company maintains a healthy current ratio of 2.36, suggesting adequate liquidity to meet short-term obligations.

These recent acquisitions add to Schorsch's substantial holdings, reflecting his confidence in the company's future prospects. Investors will be watching closely to see how these additional shares influence the company's performance and stock valuation in the coming months. For deeper insights into NYC's valuation and 18 additional key ProTips, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, American Strategic Investment Co. reported its fourth-quarter 2024 earnings, which showed a decrease in revenue to $14.9 million from $15.4 million in the same quarter of the previous year. The company also experienced an increase in its full-year net loss, which rose to $140.6 million from $105.9 million in 2023. Despite these financial challenges, the company’s strategic property sales and new leases have helped to maintain investor interest. American Strategic Investment Co. announced the completion of the sale of 9 Times Square for $63.5 million, which improved its balance sheet and generated net proceeds of approximately $13.5 million. The company is also actively marketing two additional properties, 123 William Street and 196 Orchard, as part of its diversification strategy. In a leadership update, the company announced a CEO transition, with Nick Shor, Jr. set to succeed Michael Anderson. The company remains focused on building a pipeline of new and renewal leases to increase portfolio occupancy and exploring additional income-generating investments. These developments reflect the company's ongoing efforts to diversify beyond Manhattan real estate and optimize its asset portfolio.

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