American Strategic Investing Sees $36,069 Buy Of Shares By Nicholas S. Schorsch By Investing.com
Nicholas S. Schorsch, a significant shareholder in American Strategic Investment Co. (NYSE:NYC), has increased its holdings in a series of recent transactions. According to a Form 4 filing with the Securities and Exchange Commission, Schorsch acquired a total of 4,055 shares of Class A common stock in three transactions on January 10, 13 and 14, 2025. The purchases were made at prices ranging from $8.66 to $9. 04 USD per share, for a total cost of USD 36,069. The company, currently trading at $8.99 with a market cap of $24 million, appears undervalued by InvestingPro analysis.
The transactions were done indirectly through Bellevue Capital Partners (WA:), LLC, where Schorsch is the sole voting and investment board member. The filing highlights Schorsch’s continued investment in the company, which operates as a real estate investment trust. InvestingPro the data shows that the company trades at a low price-to-book ratio of 0.26, although it maintains a weak financial health score. Subscribers can access 8 additional pro tips and extensive analysis via the Pro Research Report.
Following these transactions, Schorsch’s total beneficial ownership in American Strategic Investment Co. increased to 935,086 shares, reflecting his position as a ten percent owner.
In other recent news, American Strategic Investment Co . has made significant strides in its strategic financial plan. The company reported third quarter 2024 earnings, revealing an increase in cash net operating income (NOI) and a 70 basis point increase in the occupancy rate to 85.8%. However, it also reported a GAAP net loss of $34.5 million, primarily due to non-cash impairments, and a slight drop in revenue to $15.4 million from $16 million in the same quarter last year.
The company finalized the sale of its property at 9 Times Square in midtown Manhattan for a gross purchase price of $63.5 million, a significant step in its strategy to optimize its portfolio. This transaction was particularly significant given the company’s significant debt. The buyer, 9 Times Square Acquisitions, LLC, has no other material relationship with the seller.
These recent developments underscore American Strategic Investment’s focus on long-term value creation through strategic portfolio management, including asset sales. The company is also selling properties at 123 William Street and 196 Orchard Street, with the goal of investing the proceeds of those sales in higher-yielding assets outside of New York. This reflects the company’s confidence in its proactive asset management strategy.
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