New York City REIT, Inc. (NYSE:NYC) Major Shareholder Nicholas S. Schorsch Purchases 12,500 Shares

New York City REIT, Inc. (NYSE:NYCGet Rating) major shareholder Nicholas S. Schorsch purchased 12,500 shares of the stock in a transaction dated Friday, April 22nd. The shares were acquired at an average price of $12.77 per share, with a total value of $159,625.00. Following the completion of the acquisition, the insider now owns 1,181,091 shares in the company, valued at approximately $15,082,532.07. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

New York City REIT stock traded down $0.09 during midday trading on Friday, reaching $12.73. 50,093 shares of the stock traded hands, compared to its average volume of 62,797. The company has a 50-day simple moving average of $12.29 and a two-hundred day simple moving average of $9.92. New York City REIT, Inc. has a 12-month low of $5.79 and a 12-month high of $14.80. The firm has a market cap of $170.23 million, a PE ratio of -4.18 and a beta of 0.28.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, April 8th. New York City REIT’s dividend payout ratio (DPR) is -13.03%.

A number of institutional investors have recently made changes to their positions in NYC. IFP Advisors Inc acquired a new stake in New York City REIT in the 4th quarter valued at about $28,000. Spire Wealth Management acquired a new stake in New York City REIT in the 4th quarter valued at about $29,000. LPL Financial LLC acquired a new stake in New York City REIT in the 3rd quarter valued at about $108,000. Raymond James Financial Services Advisors Inc. raised its position in shares of New York City REIT by 38.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 14,042 shares of the company’s stock worth $113,000 after acquiring an additional 3,888 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of New York City REIT during the 4th quarter worth about $133,000. Institutional investors own 12.63% of the company’s stock.

Separately, Zacks Investment Research upgraded New York City REIT from a “sell” rating to a “hold” rating in a report on Thursday, January 20th.

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.

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