American Strategic Investment Co. (NYSE:NYC) Stock Short Interest Drops 38.7%

American Strategic Investment Co. (NYSE:NYC) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 5,042 shares, a drop of 38.7% from the August 31st total of 8,222 shares. Based on an average daily trading volume, of 17,634 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of American Strategic Investment from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Insiders Place Their Bets

In other American Strategic Investment news, major shareholder Nicholas S. Schorsch bought 5,000 shares of American Strategic Investment stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $6.81 per share, with a total value of $34,050.00. Following the acquisition, the insider directly owned 794,620 shares of the company’s stock, valued at $5,411,362.20. The trade was a 0.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.97% of the stock is owned by insiders.

American Strategic Investment Trading Up 0.8%

Shares of NYC stock traded up $0.05 on Thursday, hitting $6.17. The company had a trading volume of 943 shares, compared to its average volume of 23,309. American Strategic Investment has a twelve month low of $5.52 and a twelve month high of $13.97. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $19.50 million, a P/E ratio of 1.26 and a beta of 0.19. The stock’s 50-day moving average is $7.12 and its two-hundred day moving average is $8.02.

American Strategic Investment (NYSE:NYC) last announced its earnings results on Wednesday, August 12th. The company reported ($3.04) EPS for the quarter. The company had revenue of $7.32 million during the quarter. American Strategic Investment had a net margin of 38.87% and a negative return on equity of 50.85%.

American Strategic Investment Company Profile

American Strategic Investment Co is a real estate company focused on owning, managing and operating commercial properties in the New York City metropolitan area. Its portfolio has primarily included office properties, along with retail, medical-office and other mixed-use real estate assets.

The company seeks to generate value through property operations, leasing and active asset management. Its properties are generally positioned to serve businesses, healthcare providers, retailers and other tenants in established New York City locations.

American Strategic Investment Co was formerly known as New York City REIT, Inc and adopted its current name as part of a broader strategy focused on strategically located New York City real estate.