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New York City REIT (NYC)
NYSE:NYC
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New York City REIT
(NYSE:NYC)
41Neutral
New York City REIT (NYC) vs. S&P 500 (SPY)
Market Cap
$30.53M
Dividend YieldN/A
Average Volume (3M)7.70K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth-1.36%
EPS Growth-19.10%
CountryUS
EmployeesN/A
SectorReal Estate
Sector Strength77
IndustryREIT - Office
Share Statistics
EPS (TTM)-55.87
Shares Outstanding2,634,355
10 Day Avg. Volume9,814
30 Day Avg. Volume7,701
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.44
Price to Cash Flow (P/CF)2.70
P/FCF Ratio3.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
New York City REIT Business Overview & Revenue Model
Company DescriptionNew York City REIT (NYC) is a real estate investment trust that primarily focuses on acquiring, owning, and managing a portfolio of high-quality commercial real estate properties located in New York City. The company's portfolio includes office and retail properties, with a strategic emphasis on properties that are centrally located in Manhattan. NYC REIT aims to generate stable cash flows and long-term value through its investment in prime real estate assets.
How the Company Makes MoneyNew York City REIT makes money primarily through the leasing of its commercial real estate properties. The company's primary revenue stream is the rental income generated from its tenants, which include a mix of corporate offices, retail spaces, and other commercial establishments. Additionally, NYC REIT may engage in strategic property acquisitions and dispositions to optimize its portfolio and enhance returns. The company may also benefit from property appreciation over time, though its main focus remains on generating consistent rental income. Significant factors contributing to its earnings include property location, occupancy rates, lease terms, and the overall economic environment in New York City.
New York City REIT Financial Statement Overview
Summary
New York City REIT is facing significant financial distress. The absence of revenue, increasing losses, and cash flow issues indicate operational and financial challenges. The company must urgently address these issues to stabilize its financial health and improve its long-term viability.Income Statement
The income statement reveals a concerning trend with declining revenues and increasing net losses. The company has zero revenue for the latest annual period, indicating severe operational challenges. Margins have been consistently negative, with deteriorating EBIT and EBITDA figures, highlighting unsustainable business operations.15
Very Negative
Balance Sheet
The balance sheet shows some strengths, such as positive stockholders' equity and no total debt in the most recent report. However, equity has decreased significantly over time, and asset levels have been shrinking, reflecting a weakening financial position. The company needs to manage its liabilities and assets more effectively.40
Negative
Cash Flow
The cash flow statement underscores the company's cash management issues, with no operating cash flow and consistently negative free cash flow. The inability to generate positive cash flow from operations in recent years raises concerns about liquidity and financial sustainability.10
Very Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 61.57M | 62.71M | 64.00M | 70.22M | 62.90M | Gross Profit |
| 27.39M | 21.23M | 23.00M | 29.30M | 23.04M | EBIT |
| -121.22M | -87.10M | -26.97M | -18.89M | -21.82M | EBITDA |
| -102.69M | -60.53M | 1.69M | 10.72M | 9.93M | Net Income Common Stockholders |
| -140.59M | -105.92M | -64.82M | -39.47M | -60.89M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 9.78M | 5.29M | 9.21M | 11.67M | 31.00M | Total Assets |
| 507.07M | 694.17M | 790.46M | 823.05M | 861.85M | Total Debt |
| 403.14M | 452.42M | 448.88M | 452.89M | 451.39M | Net Debt |
| -9.78M | 447.13M | 439.66M | 441.21M | 420.39M | Total Liabilities |
| 421.48M | 469.38M | 468.88M | 471.92M | 480.28M | Stockholders Equity |
| 85.59M | 224.79M | 301.06M | 338.99M | 377.56M |
| Cash Flow | Free Cash Flow | |||
| -5.29M | -11.46M | -6.04M | -11.29M | -17.33M | Operating Cash Flow |
| -4.00M | -7.41M | -486.00K | -7.92M | -13.58M | Investing Cash Flow |
| 59.86M | 71.00K | -5.55M | -3.38M | -3.75M | Financing Cash Flow |
| -49.73M | 4.03M | -6.27M | -275.00K | -970.00K |
New York City REIT Technical Analysis
Positive
11.53
Price Trends
10.86
Positive
9.94
Positive
9.45
Positive
Market Momentum
0.33
Positive
53.81
Neutral
38.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NYC, the sentiment is Positive. The current price of 11.53 is above the 20-day moving average (MA) of 11.38, above the 50-day MA of 10.86, and above the 200-day MA of 9.45, indicating a bullish trend. The MACD of 0.33 indicates Positive momentum. The RSI at 53.81 is Neutral, neither overbought nor oversold. The STOCH value of 38.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NYC.
New York City REIT Risk Analysis
New York City REIT disclosed 62 risk factors in its most recent earnings report. New York City REIT reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
New York City REIT Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $2.72B | 11.53 | 0.09% | 8679.99% | 5.56% | -16.50% | |
55 Neutral | $201.39M | ― | -2.35% | 8.11% | -4.45% | -147.11% | |
52 Neutral | $829.80M | ― | -4.78% | 7.63% | -5.58% | -63.09% | |
51 Neutral | $159.49M | ― | -7.70% | 2.65% | -19.86% | -9.50% | |
50 Neutral | $96.05M | ― | -12.49% | 19.51% | -15.46% | -81.31% | |
46 Neutral | $23.74M | ― | -11.33% | 11.76% | -5.92% | -54.08% | |
41 Neutral | $30.53M | ― | -90.59% | ― | -1.36% | -19.10% |
* Real Estate Sector Average
Performance Comparison
NYC
New York City REIT
11.53
5.50
91.21%
FSP
Franklin Street Properties
1.54
-0.45
-22.61%
PDM
Piedmont Office
6.67
0.19
2.93%
OPI
Office Properties Income
0.33
-1.62
-83.08%
CIO
City Office REIT
4.99
0.77
18.25%
ONL
Orion Office REIT
1.71
-1.35
-44.12%
New York City REIT Earnings Call Summary
Earnings Call Date: Mar 19, 2025 | % Change Since: 21.24% | Next Earnings Date: May 9, 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.Highlights
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.
Lowlights
Decline in Revenue
Revenue was $61.6 million for the year ended 2024, down from $62.7 million in 2023. Fourth quarter revenue was $14.9 million compared to $15.4 million in the fourth quarter of 2023.
Increased Net Loss
The company's full year GAAP net loss attributed to common stockholders was $140.6 million compared to a net loss of $105.9 million in 2023. Net loss for the quarter was $6.7 million compared to $73.9 million for the fourth quarter in 2023.
Occupancy Challenges
Year-end occupancy was 80.8%, indicating potential challenges in filling vacant spaces within the portfolio.
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.New York City REIT Corporate Events
Executive/Board ChangesBusiness Operations and StrategyFinancial Disclosures
New York City REIT Reports 2024 Financial Results
Negative
Mar 21, 2025
On March 19, 2025, American Strategic Investment Co. held an earnings call to discuss its financial results for the fourth quarter and full year of 2024. The company reported a revenue of $61.6 million for the year, a slight decrease from 2023, and a net loss of $140.6 million. The company completed the sale of 9 Times Square for $63.5 million, which improved its cash position and balance sheet leverage. It is also marketing additional properties for sale as part of its diversification strategy. The company is focused on securing tenants in resilient industries and has made progress in leasing efforts, securing five new leases in 2024. Michael Anderson announced his resignation as CEO, with Nick Schorsch, Jr. set to succeed him.
M&A TransactionsBusiness Operations and Strategy
New York City REIT Strengthens Position with Key Sale
Positive
Mar 21, 2025
On March 19, 2025, American Strategic Investment Co. presented an investor presentation highlighting its strategic actions in the fourth quarter of 2024. The company completed the sale of 9 Times Square for $63.5 million, strengthening its cash position and reducing leverage. It also relaunched marketing efforts for the sale of 123 William Street and 196 Orchard Street, aiming to use proceeds for higher-yielding investments beyond Manhattan. The company completed five new leases in 2024 and executed a term sheet to expand a tenant’s lease at 123 William Street, reflecting active portfolio management and strategic disposition initiatives.
Business Operations and StrategyFinancial Disclosures
New York City REIT Reports Q4 2024 Financial Results
Negative
Mar 19, 2025
American Strategic Investment Co. reported its financial results for the fourth quarter and full year ending December 31, 2024. The company experienced a decrease in revenue to $14.9 million for the fourth quarter, partly due to the sale of 9 Times Square, and a net loss of $6.7 million. For the full year, revenue was $61.6 million with a net loss of $140.6 million. Despite these losses, the company improved its Cash Net Operating Income and maintained a conservative balance sheet with 100% fixed-rate debt. The company is focused on asset diversification and leasing to high-quality tenants.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.