Bitcoin price today: muted at $118k but altcoins soar as House passes new bills
American Strategic Investment Co. (NYSE:NYC), currently trading at a modest market capitalization of $26.16 million and significantly below its InvestingPro Fair Value, recently saw significant stock purchases by a major shareholder, Nicholas S. Schorsch, through Bellevue Capital Partners, LLC. Over three consecutive days, Schorsch acquired a total of 2,072 shares of Class A common stock, amounting to $20,941. The purchases were made at an average price range between $9.94 and $10.29 per share.
On June 6, Schorsch bought 666 shares at an average price of $10.09 per share. This was followed by the acquisition of 703 shares on June 9, with the average price per share at $10.29. The buying spree continued on June 10, with another 703 shares purchased at an average price of $9.94 each. The company trades at a low Price/Book ratio of 0.32, while maintaining healthy liquidity with a current ratio of 2.22.
Following these transactions, Schorsch’s indirect ownership through Bellevue Capital Partners now totals 1,001,083 shares. Additionally, he holds 26,559 shares directly. These transactions underscore Schorsch’s continued confidence in American Strategic Investment, as he retains voting and investment discretion over the securities held by Bellevue Capital Partners. For deeper insights into NYC’s valuation and 13 additional key ProTips, visit InvestingPro.
In other recent news, American Strategic Investment Company (ASIC) reported a decline in revenue for the first quarter of 2025, with figures dropping to $12.3 million from $15.5 million in the same period last year. The company also experienced an increased GAAP net loss of $8.6 million, compared to $7.6 million in Q1 2024. Despite these financial challenges, ASIC has improved its occupancy rates by 120 basis points to 82% and is marketing two properties for sale to reduce leverage. The company is actively seeking to diversify its portfolio by investing in higher-yielding assets. In addition, ASIC plans to use proceeds from property sales to retire debt, a move expected to enhance shareholder value. The upcoming virtual annual shareholders meeting on May 29, 2025, is anticipated to provide further insights into these strategic initiatives. CEO Nick Shorz, Jr. emphasized the company’s strategy to divest select Manhattan assets to pursue more profitable ventures. The company faces risks from market volatility in the Manhattan real estate sector and rising interest rates, which may impact its borrowing costs and refinancing strategies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.