Indaba Capital Management buys $31,126,295 stake in New York REIT Inc (NYRT)

New York REIT Inc (NYRT) : Indaba Capital Management scooped up 2,368,086 additional shares in New York REIT Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,131,418 shares of New York REIT Inc which is valued at $31,126,295.New York REIT Inc makes up approximately 10.79% of Indaba Capital Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp boosted its stake in NYRT in the latest quarter, The investment management firm added 17,510 additional shares and now holds a total of 41,378 shares of New York REIT Inc which is valued at $411,297.Vantage Investment Advisors reduced its stake in NYRT by selling 2,782 shares or 19.25% in the most recent quarter. The Hedge Fund company now holds 11,672 shares of NYRT which is valued at $116,020. New York REIT Inc makes up approx 0.05% of Vantage Investment Advisors’s portfolio. Raymond James Financial Services Advisors added NYRT to its portfolio by purchasing 13,091 company shares during the most recent quarter which is valued at $130,125. Tower Research Capital (trc) added NYRT to its portfolio by purchasing 12,123 company shares during the most recent quarter which is valued at $120,503. New York REIT Inc makes up approx 0.01% of Tower Research Capital (trc)’s portfolio.Rehmann Capital Advisory Group reduced its stake in NYRT by selling 6,219 shares or 6.5% in the most recent quarter. The Hedge Fund company now holds 89,399 shares of NYRT which is valued at $840,351. New York REIT Inc makes up approx 0.15% of Rehmann Capital Advisory Group’s portfolio.

New York REIT Inc closed down -0.07 points or -0.72% at $9.59 with 6,13,918 shares getting traded on Thursday. Post opening the session at $9.64, the shares hit an intraday low of $9.55 and an intraday high of $9.66 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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