Revenue Update on New York REIT Inc(NYSE:NYRT)

New York REIT Inc(NYSE:NYRT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $39.92M. Analysts estimated a revenue of $41.08M. Earnings per share were $0.10. Analysts had estimated an EPS of $0.10.

In a different note, On Jun 30, 2016, Compass Point said it Reinstates its rating on New York REIT Inc. The shares have been rated ‘Buy’ by the firm.

New York REIT Inc (NYRT) made into the market gainers list on Wednesdays trading session with the shares advancing 1.01% or 0.1 points. Due to strong positive momentum, the stock ended at $10, which is also near the day’s high of $10. The stock began the session at $9.89 and the volume stood at 5,74,525 shares. The 52-week high of the shares is $11.9 and the 52 week low is $8.79. The company has a current market capitalization of $1,658 M and it has 16,58,46,060 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2015, Marc J Rowan (director) purchased 99,418 shares at $10.60 per share price.Also, On May 27, 2015, Michael A. Happel (CEO) purchased 23,000 shares at $9.04 per share price.

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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