K2 Principal Fund Lowers stake in New York REIT Inc (NYRT)

New York REIT Inc (NYRT) : K2 Principal Fund reduced its stake in New York REIT Inc by 12.61% during the most recent quarter end. The investment management company now holds a total of 1,289,816 shares of New York REIT Inc which is valued at $12.7 Million after selling 186,152 shares in New York REIT Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.New York REIT Inc makes up approximately 3.96% of K2 Principal Fund’s portfolio.

Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd added NYRT to its portfolio by purchasing 383,522 company shares during the most recent quarter which is valued at $3.8 Million. New York REIT Inc makes up approx 0.12% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Manufacturers Life Insurance Company The boosted its stake in NYRT in the latest quarter, The investment management firm added 974 additional shares and now holds a total of 122,084 shares of New York REIT Inc which is valued at $1.2 Million.Great West Life Assurance Co Can boosted its stake in NYRT in the latest quarter, The investment management firm added 6,706 additional shares and now holds a total of 19,606 shares of New York REIT Inc which is valued at $192,727.

New York REIT Inc opened for trading at $9.56 and hit $9.58 on the upside on Friday, eventually ending the session at $9.58, with a gain of 0.21% or 0.02 points. The heightened volatility saw the trading volume jump to 6,30,078 shares. Company has a market cap of $1,581,016 M.

On the company’s financial health, New York REIT Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.09. The company had revenue of $36.70 million for the quarter, compared to analysts expectations of $40.10 million. The company’s revenue was down -12.4 % compared to the same quarter last year.

New York REIT Inc. is a real estate investment trust. The Company focuses on acquiring income-producing commercial real estate in New York City. The Company primarily focuses on office and retail properties located in Manhattan. Approximately 95.9% of the Company’s properties are located in Manhattan while approximately 3.8% is located in Brooklyn and approximately 0.3% in Queens. The Company owns approximately 24 properties and real estate-related assets located in New York City. The Company’s properties aggregate approximately 3.4 million rentable square feet with an average occupancy of approximately 94.9% and an average remaining lease term of approximately 9.9 years. The Company’s portfolio primarily consists of office and retail properties representing approximately 82% and 9% of rentable square feet respectively. The Company conducts most of its business through New York Recovery Operating Partnership L.P.

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