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 8.17% during the most recent quarter end. The investment management company now holds a total of 1,184,477 shares of New York REIT Inc which is valued at $11,773,701 after selling 105,339 shares in New York REIT Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.New York REIT Inc makes up approximately 2.74% of K2 Principal Fund’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in NYRT in the latest quarter, The investment management firm added 38,157 additional shares and now holds a total of 356,497 shares of New York REIT Inc which is valued at $3,543,580.New York State Common Retirement Fund boosted its stake in NYRT in the latest quarter, The investment management firm added 38,470 additional shares and now holds a total of 383,270 shares of New York REIT Inc which is valued at $3,809,704. New York REIT Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Nisa Investment Advisors boosted its stake in NYRT in the latest quarter, The investment management firm added 13,300 additional shares and now holds a total of 15,600 shares of New York REIT Inc which is valued at $147,732.

New York REIT Inc closed down -0.02 points or -0.20% at $9.79 with 12,05,232 shares getting traded on Tuesday. Post opening the session at $9.87, the shares hit an intraday low of $9.745 and an intraday high of $9.885 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, New York REIT Inc reported $0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.10. The company had revenue of $399.00 million for the quarter, compared to analysts expectations of $41.08 million. The company’s revenue was up 815.1% compared to the same quarter last year.

Many Wall Street Analysts have commented on New York REIT Inc. Compass Point Initiated New York REIT Inc on Jun 30, 2016 to “Buy”, Price Target of the shares are set at $12.

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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