I was looking for a NYC reit as I have ESS on the west coast and they've done very well for me. Since buying NYC they have doubled in value but im unsure why and curious if I should continue buying or take profits?
They sold their property in Times Square for $63 million last year.
They had a $140 million net loss in 2024 after posting a $105 million net loss in 2023 yet shares doubled in value the last year.
They only have (6) properties in their portfolios I believe and unlike most reit's, offer no dividend.
If anyone has info on them, I'd appreciate it.