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NYRT Addresses Shareholder Concerns

NEW YORK CITY—Following several months of complaint by activist shareholders, the firm is taking several steps to narrow the gap between net asset value and the stock price.

By Rayna Katz | Updated on October 01, 2015

NEW YORK CITY—New York REIT has initiated a series of governance, strategic and operational actions intended to enhance value for all shareholders and narrow the gap between net asset value and the company’s current common share price. The measures come after a summer of complaints from activist investors.

NYRT’s senior management and the board of directors unanimously endorsed the following actions: The board appointed Marc Rowan as a director. The board is conducting a search for two more independent directors.

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