Indaba Capital Management Lowers stake in New York REIT Inc (NYRT)

New York REIT Inc (NYRT) : Indaba Capital Management reduced its stake in New York REIT Inc by 26.15% during the most recent quarter end. The investment management company now holds a total of 3,141,357 shares of New York REIT Inc which is valued at $30,282,681 after selling 1,112,522 shares in New York REIT Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.New York REIT Inc makes up approximately 15.58% of Indaba Capital Management’s portfolio.

Other Hedge Funds, Including , Group One Trading reduced its stake in NYRT by selling 4,993 shares or 98.04% in the most recent quarter. The Hedge Fund company now holds 100 shares of NYRT which is valued at $964.Geode Capital Management boosted its stake in NYRT in the latest quarter, The investment management firm added 78,835 additional shares and now holds a total of 1,411,531 shares of New York REIT Inc which is valued at $13,282,507. New York REIT Inc makes up approx 0.01% of Geode Capital Management’s portfolio.Emerald Acquisition Ltd. reduced its stake in NYRT by selling 327,585 shares or 45.8% in the most recent quarter. The Hedge Fund company now holds 387,622 shares of NYRT which is valued at $3,686,285. New York REIT Inc makes up approx 0.01% of Emerald Acquisition Ltd.’s portfolio.Sigma Planning Corp reduced its stake in NYRT by selling 1,136 shares or 2.04% in the most recent quarter. The Hedge Fund company now holds 54,554 shares of NYRT which is valued at $512,262. New York REIT Inc makes up approx 0.06% of Sigma Planning Corp’s portfolio.

New York REIT Inc opened for trading at $9.64 and hit $9.755 on the upside on Monday, eventually ending the session at $9.72, with a gain of 1.04% or 0.1 points. The heightened volatility saw the trading volume jump to 12,44,941 shares. Company has a market cap of $1,612 M.

On the company’s financial health, New York REIT Inc reported $0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $0.10. The company had revenue of $41.30 million for the quarter, compared to analysts expectations of $39.96 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.11 EPS.

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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