Overview

* American Strategic Q2 revenue falls due to sale of 9 Times Square

* Net loss narrows significantly compared to Q2 2024

* Portfolio occupancy stable at 82%, lease term extended to 6 years

Outlook

* Company aims to divest certain Manhattan assets for higher-yielding properties

* ASIC focuses on tenant retention to extend lease terms

* Company prioritizes enhancing long-term portfolio value

Result Drivers

* REVENUE DECLINE - Revenue decreased to $12.2 mln from $15.8 mln in Q2 2024, primarily due to the sale of 9 Times Square in the prior year

* LEASE EXTENSIONS - Weighted-average remaining lease term increased to 6.0 years, driven by long-term lease extensions at 123 William and 1140 Avenue of the Americas

* TENANT RETENTION FOCUS - CEO Nicholas Schorsch, Jr. highlighted the company's focus on tenant retention and strategic asset divestment to enhance long-term portfolio value

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $12.22

Revenue mln

Q2 EPS -$16.39

Q2 Net -$41.66

Income mln

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)