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Expect New York REIT asset sale news next month - Evercore ISI

Published 08/16/2017, 11:15 AM
© Reuters.  Expect New York REIT asset sale news next month - Evercore ISI
NYRT
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  • via Bloomberg
  • Look for "news flow" on New York REIT's (NYRT -0.1%) asset sales to begin in September, says Evercore's Sheila McGrath, with the implied value of Worldwide Plaza to be $1.7B, consistent with what's been estimated.
  • Last week's announced sale of 50 Varick Street for $135M was $2.5M shy of expectations.
  • McGrath believes shares have overreacted to a filing showing estimated liquidation value of $9.21 per share vs. $9.25 previously. September's fresh news, could provide a catalyst to reverse.
  • Now read: Top Merger Stocks Held By Fund Managers (Mid Q3-2017)


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