American technology investments see an average price of $37,991 per Investing.com

In recent transactions, insiders are American Strategic Investment Co. (NYSE:NYC), a company currently valued at $24 million and trading at just 0.26 times book value. follow InvestingProparticipated in a series of stock buybacks, accumulating approximately $37,991 worth of shares. These transactions, reported in the SEC Form 4 filing, took place over several days, with shares being acquired at a price ranging from $8.65 to $9.01.

The owner of the original report, Nicholas S. Schorsch, along with affiliated organizations such as Bellevue. Capital Partners (WA:), LLC, AR Global Investments, LLC, and others, reported this finding. The purchase included 2,112 shares on December 31, 2024, at an average price of $8.69, followed by 1,112 shares on January 2, 2025, at $8.65, and another 1,112 shares on January 3, 2025, at $9.01.

Following these transactions, the total number of reporting party shares increased to 927,068. The price reflects the continued investment interest in the company from insiders, which shows confidence in the company’s future, despite the current problems. Subscribers to InvestingPro it can receive a comprehensive analysis including 8 ProTips and a comprehensive Fair Value analysis suggesting that the stock may be undervalued at current levels.

In other recent news, American Strategic Investment Co. still active in the real estate market. The company recently sold its 9 Times Square property in Midtown Manhattan for a whopping $63.5 million. The sale is part of the company’s strategic plan to improve its portfolio and reduce its heavy debt burden.

In addition to this, American Strategic Investment Co. reported its third quarter earnings for 2024. The company saw growth in net operating income (NOI) and a 70% increase in occupancy rates to 85.8%. However, it also reported a GAAP net loss of $34.5 billion, primarily due to the impairment, and a decrease in revenue to $15.4 million from $16 million in the same quarter of 2023.

The company also announced plans to sell its properties at 123 William Street and 196 Orchard. These recent developments and sales of intellectual property are part of American Strategic Investment’s focus on long-term value creation through portfolio management and asset diversification. The company intends to invest the proceeds from these sales in high-yielding assets outside of New York City.

This article was created with the support of AI and reviewed by the editor. For more details, see our T&C.