American Strategic Investment Q3 revenue falls
Overview
American Strategic Q3 revenue declined
Net income for Q3 was $35.8 mln due to non-cash gain from property disposition
Adjusted EBITDA fell to $1.9 mln from $4.2 mln in Q3 2024
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
REVENUE DECLINE - Revenue decreased due to the sale of 9 Times Square in the prior year
NON-CASH GAIN - Net income driven by non-cash gain from disposition of 1140 Avenue of the Americas
FORECLOSURE STRATEGY - Consensual foreclosure at 1140 Avenue of the Americas aimed to remove restrictive covenants and reduce expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $12.27 mln |
|
Q3 EPS |
| $13.60 |
|
Q3 Net Income |
| $35.75 mln |
|
Press Release: ID:nBw2j3pzxa
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