New York City REIT, Inc. (NYSE:NYC) Major Shareholder Nicholas S. Schorsch Acquires 12500 Shares

New York City REIT, Inc. (NYSE:NYC – Get Rating) major shareholder Nicholas S. Schorsch purchased 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The stock was bought at an average cost of $12.98 per share, for a total transaction of $162,250.00. Following the completion of the purchase, the insider now directly owns 1,106,091 shares in the company, valued at approximately $14,357,061.18. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NYC stock traded up $0.47 during mid-day trading on Wednesday, reaching $12.92. The company’s stock had a trading volume of 40,580 shares, compared to its average volume of 63,283. The stock has a market cap of $172.77 million, a PE ratio of -4.21 and a beta of 0.28. New York City REIT, Inc. has a fifty-two week low of $5.79 and a fifty-two week high of $14.80. The company’s 50 day moving average is $12.08 and its two-hundred day moving average is $9.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Shareholders of record on Monday, April 11th will be issued a $0.10 dividend. The ex-dividend date is Friday, April 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.10%. New York City REIT’s payout ratio is -13.03%.

Separately, Zacks Investment Research raised shares of New York City REIT from a “sell” rating to a “hold” rating in a research note on Thursday, January 20th.

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in New York City REIT by 59.5% in the 3rd quarter. Morgan Stanley now owns 492,326 shares of the company’s stock valued at $3,973,000 after acquiring an additional 183,752 shares during the last quarter. AE Wealth Management LLC raised its holdings in New York City REIT by 35.2% in the 3rd quarter. AE Wealth Management LLC now owns 102,438 shares of the company’s stock valued at $827,000 after acquiring an additional 26,688 shares during the last quarter. Kovack Advisors Inc. raised its holdings in New York City REIT by 164.6% in the 4th quarter. Kovack Advisors Inc. now owns 91,987 shares of the company’s stock valued at $976,000 after acquiring an additional 57,219 shares during the last quarter. Geode Capital Management LLC raised its holdings in New York City REIT by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 83,146 shares of the company’s stock valued at $882,000 after acquiring an additional 1,969 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in New York City REIT by 44.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 50,927 shares of the company’s stock valued at $411,000 after acquiring an additional 15,572 shares during the last quarter. Institutional investors own 12.63% of the company’s stock.

About New York City REIT (Get Rating)

New York City REIT, Inc (NYSE: NYC) is a publicly traded real estate investment trust listed on the NYSE that owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City.

Featured Articles

Receive News & Ratings for New York City REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York City REIT and related companies with MarketBeat.com's FREE daily email newsletter.