American Strategic Reports Q1 2026 Results: Full Earnings Call Transcript - American Strategic (NYSE:NYC)

On Friday, American Strategic (NYSE:NYC) discussed first-quarter financial results during its earnings call. The full transcript is provided below. Benzinga APIs provide real-time access to earnings call transcripts and financial data. Visit www.benzinga.com/apis to learn more. View the webcast at viavid.webcasts.com/starthere.... Summary American Strategic reported first quarter 2026 revenue of $7.3 million, down from $12.3 million in the same period the previous year, primarily due to the foreclosure of a property. The company experienced a GAAP net loss of $7.8 million, influenced by a $2.3 million non-cash gain and a $5 million decrease in tenant revenue. Adjusted EBITDA was negative $1.1 million, compared to negative $0.8 million in the first quarter of 2025. American Strategic is focused on tenant retention and property improvements, with 60% of leases extending beyond 2030. The company is exploring asset sales and refinancing options to maximize long-term value. Management emphasized portfolio stability with a high quality tenant base, including 69% investment grade tenants. Full Transcript OPERATOR Good morning and welcome to the American Strategic Investment Company's first quarter 2026 earnings call. At this time, all participants are in a listen only mode. If anyone should require operator assistance, please press Star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to Curtis Parker, Senior Vice President. Please go ahead. Curtis Parker (Senior Vice President) Nicholas Schorsch Jr. Michael Lofrano Nicholas Schorsch Jr. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.