On Friday, American Strategic (NYSE:NYC) discussed first-quarter financial results during its earnings call. The full transcript is provided below.
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View the webcast at https://viavid.webcasts.com/starthere.jsp?ei=1761155&tp_key=d3333dac63
Summary
American Strategic reported first quarter 2026 revenue of $7.3 million, down from $12.3 million in the same period the previous year, primarily due to the foreclosure of a property.
The company experienced a GAAP net loss of $7.8 million, influenced by a $2.3 million non-cash gain and a $5 million decrease in tenant revenue.
Adjusted EBITDA was negative $1.1 million, compared to negative $0.8 million in the first quarter of 2025.
American Strategic is focused on tenant retention and property improvements, with 60% of leases extending beyond 2030.
The company is exploring asset sales and refinancing options to maximize long-term value.
Management emphasized portfolio stability with a high quality tenant base, including 69% investment grade tenants.
Full Transcript
OPERATOR
Good morning and welcome to the American Strategic Investment Company’s first quarter 2026 earnings call. At this time, all participants are in a listen only mode. If anyone should require operator assistance, please press Star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to Curtis Parker, Senior Vice President. Please go ahead.
Curtis Parker (Senior Vice President)
Thank you. Good morning everyone and thank you for joining us for our first quarter 2026 earnings call. This event is also being webcast in the Investor Relations section of our website. Joining me today on the call to discuss the quarter’s results are Nicholas Schorsch Jr. American strategic investment Company’s Chief Executive Officer and Michael Lofrano, the Chief Financial Officer. The following information contains forward-looking statements within the meaning of the Private Securities Litigation Reform act of 1995 which are subject to risks and uncertainties. Please review the forward-looking and cautionary statements section at the end of the first quarter 2026 earnings release for various factors that could cause actual results to differ materially from forward-looking statements made during our call today. Should one or more of these risks or uncertainties materialize, actual results may differ materially from those expressed or implied by the forward-looking statements. We refer all of you to our SEC filings, including the Form 10K filed for …
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