8-K
filed March 16, 2023, 7:59 PM ET
ticker NYC
CIK 0001595527
earnings
confidence high
sentiment negative
materiality 0.65
ASIC Q4 net loss $10.1M, revenue $16.2M; cash NOI up 13% YoY
American Strategic Investment Co.
- Q4 revenue $16.2M (-33% YoY, including ~$9M termination fees in Q4 2021); net loss $10.1M ($5.48 per share).
- Adjusted EBITDA $4.5M; cash NOI $8.0M (+13% YoY); 100% rent collection; Core FFO -$0.2M (improved from -$1.9M Q3 2022).
- Full year net loss $45.9M ($26.59 per share) on revenue $64.0M; portfolio 82.7% occupied, 7.1 year WALT.
- Debt 100% fixed-rate, 4.4% avg rate, no maturities until 2024; net leverage 40.7%.
- Subsequent events: rebranded to ASIC, rights offering net proceeds ~$4.1M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
American Strategic Investment Co. reported fourth quarter and year ended December 31, 2022 results: revenue $16.2 million, net income $10.1 million, EPS $5.48 per share.
- Period
- fourth quarter and year ended December 31, 2022
- Revenue
- $16.2 million
- Net income
- $10.1 million
- EPS
- $5.48 per share
- Result
- reported results
Exact text from the filing
share data has been retroactively adjusted to reflect the 1-for-8 reverse stock split which occurred on January 11, 2023. Fourth Quarter 2022 and Subsequent Events • Revenue was $16.2 million compared to $24.2 million in the fourth quarter 2021, as the fourth quarter 2021 benefited from approximately $9 million in termination fees and accelerated amortization of the
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
American Strategic Investment Co. reported year ended December 31, 2022 results: revenue $64.0 million, net income $45.9 million, EPS $26.59 per share.
- Period
- year ended December 31, 2022
- Revenue
- $64.0 million
- Net income
- $45.9 million
- EPS
- $26.59 per share
- Result
- reported results
Exact text from the filing
and received net proceeds of approximately $4.1 million through a rights offering subsequent to quarter end Full Year 2022 Highlights • Revenue was $64.0 million • Net loss attributable to common stockholders was $45.9 million or $26.59 per share • Adjusted EBITDA was $10.5 million • Portfolio occupancy of 82.7% as of December 31, 2022 with a weighted-average remaining lease term of 7.1 years • Over 58,200 square feet of new leasing and lease renewals completed • Portfolio debt is 100% fixed rate with no maturities through the end of 2023, 4.4% weighted-average interest rate and 4.1 years of weighted-average debt maturity • Conservative balance sheet with net leverage of 40.7% CEO Comments “The end of 2022 was the beginning of a major transformation to ensure the Company is best positioned to benefit from a more diversified set of income streams and cash flows over time, ultimately drivi
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
American Strategic Investment Co. reported fourth quarter ended December 31, 2022 results: revenue $16.2 million, net income $10.1 million, EPS $5.48 per share.
- Period
- fourth quarter ended December 31, 2022
- Revenue
- $16.2 million
- Net income
- $10.1 million
- EPS
- $5.48 per share
- Result
- reported results
Exact text from the filing
Revenue was $16.2 million compared to $24.2 million in the fourth quarter 2021, as the fourth quarter 2021 benefited from approximately $9 million in termination fees and accelerated amortization of the remaining unamortized balance of below-market lease liabilities recorded as revenue
View on SEC.gov
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