American Strategic Investment Co. (NYSE:NYC) Q3 2023 Earnings Conference Call November 9, 2023 11:00 AM ET

Company Participants

Curtis Parker - Senior Vice President

Michael Anderson - Chief Executive officer

Joe Marnikovic - Chief Financial Officer

Conference Call Participants

Bryan Maher - B. Riley Securities

Operator

Good morning, and welcome to the American Strategic Investment Company’s Third Quarter Earnings Call. [Operator Instructions] Thank you. I would now turn today’s call over to Curtis Parker, Senior Vice President. Please go ahead.

Curtis Parker

Thank you. Good morning, everyone and thank you for joining us for our third quarter 2023 earnings call. This event is also being webcast in the Investor Relations section of our website. Joining me today on the call to discuss the quarter’s results are Michael Anderson, American Strategic Investment Company’s Chief Executive officer and Joe Marnikovic, the Chief Financial Officer.

The following information contains forward-looking statements, which are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, actual results may differ materially from those expressed or implied by the forward-looking statements. We refer all of you to our SEC filings, including the Form 10-K filed for the year ended December 31, 2022, filed on March 16, 2023, and all subsequent SEC filings for a more detailed discussion of the risk factors that could cause these differences.

Any forward-looking statements provided during this conference call are only made as of the date of this call. As stated in our SEC filings, the company disclaims any intent or obligation to update or revise these forward-looking statements, except as required by law.

Also, during today’s call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating the company’s financial performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available in our earnings release, which is posted on our website at www.americanstrategicinvestment.com. Please also refer to our earnings release for more detailed information about what we consider to be implied investment-grade tenants, a term we will use throughout today’s call.

I will now turn the call over to Michael Anderson, Chief Executive Officer. Please go ahead, Mike.

Michael Anderson

Thanks, Curtis. Good morning and thank you all for joining us today. Joe and I are very happy to be hosting our first American Strategic Investment Co. earnings call this morning to discuss the third quarter results. Across our portfolio, we continue to realize the benefits of our ongoing leasing and tenant retention initiatives. Through the end of the third quarter, we have completed 10 new leases this year that have contributed to a 2.4% increase in occupancy to 85.1% across our portfolio, up from 82.7% at the end of 2022.