American Strategic Investment Q2 revenue drops after property sale - NYC News | RalliesAmerican Strategic Investment Q2 revenue drops after property sale
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NYC• Outlook
- Company did not provide specific guidance for the current quarter or full year
Overview
- US commercial real estate owner's Q2 revenue fell sharply yr/yr after property sale
- Net loss narrowed in Q2 compared to prior year
- Company's advisor received shares instead of cash for advisory fees to conserve liquidity
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | | $7.32 mln | |
| Q2 Loss Per Share | | $3.04 | |
| Q2 Net Loss | | $8.30 mln | |
Result Drivers
- Property sale - Q2 revenue drop was mainly due to the disposition of 1140 Avenue of the Americas in the prior year
- Capital conservation - Co paid advisory fees with stock instead of cash to preserve liquidity
- Investment grade tenants - Majority of rent from top tenants derived from investment grade or implied investment grade tenants
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