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New York City Reit, Inc. (NYC)
:NYC
Earnings Data
Report Date
May 09, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-2.06Last Year’s EPS
-32.27Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 19, 2025
|% Change Since: 13.04%
|Next Earnings Date:May 09, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with significant achievements in property disposition and leasing, as well as stable financial management with fixed rate debt. However, these were offset by declines in revenue, increased net loss, and occupancy challenges, leading to a balanced view of the company's performance.Company Guidance
During the American Strategic Investment Co.'s fourth quarter and year-end 2024 earnings call, key guidance was provided on several financial metrics and strategic initiatives. The company reported a full-year revenue of $61.6 million, a slight decrease from $62.7 million in 2023, with a fourth-quarter revenue of $14.9 million compared to $15.4 million in the prior year. The net loss for 2024 was $140.6 million, an increase from a $105.9 million loss in 2023, but the fourth-quarter net loss showed improvement at $6.7 million compared to $73.9 million in the same quarter of 2023. Adjusted EBITDA for the year was $11.9 million, while cash NOI improved slightly to $27.6 million. The company maintains a conservative balance sheet with 100% fixed-rate debt, net leverage of 56.9%, and a weighted average effective interest rate of 4.4%. Strategically, the company completed the sale of 9 Times Square for $63.5 million, enhancing its cash position by $13.5 million, and is actively marketing additional properties to diversify beyond Manhattan real estate. The portfolio's occupancy stood at 80.8% with a weighted average lease term of 6.3 years, focusing on securing investment-grade tenants to strengthen future financial performance.Successful Property Disposition
Completed the disposition of 9 Times Square for $63.5 million, which improved leverage on the balance sheet and generated net proceeds of approximately $13.5 million, strengthening cash position.
Leasing Achievements
Secured five new leases totaling over 37,000 square feet and $2 million of straight line rent during 2024, demonstrating proactive leasing efforts.
Improvement in Cash NOI
Cash NOI for the full year was $27.6 million compared to $27.3 million in 2023, with $6.4 million in the fourth quarter compared to $6.3 million in the same period of the previous year.
Fixed Rate Debt Stability
Maintained a conservative balance sheet with 100% fixed rate debt and a prudent net leverage of 56.9%, ensuring stability against interest rate fluctuations.
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NYC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NYC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 19, 2025 | $9.51 | $9.90 | +4.10% |
| Nov 12, 2024 | $8.72 | $8.64 | -0.92% |
| Aug 09, 2024 | $8.74 | $8.92 | +2.06% |
| May 10, 2024 | $8.20 | $8.16 | -0.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does New York City Reit, Inc. (NYC) report earnings?
New York City Reit, Inc. (NYC) is schdueled to report earning on May 09, 2025, TBA Not Confirmed.
What is New York City Reit, Inc. (NYC) earnings time?
New York City Reit, Inc. (NYC) earnings time is at May 09, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NYC EPS forecast?
NYC EPS forecast for the fiscal quarter 2025 (Q1) is -2.06.
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