New York REIT CEO on new liquidation value: 'If we can deliver more, we will'

New York REIT CEO on new liquidation value: ‘If we can deliver more, we will’

May 11, 2017 | by Tom Yeatts | S&P Global

Close up of businessman holding city model in hands

New York REIT shares were down more than 10% in early trading May 11 after the company disclosed a new liquidation value below previous estimates.

The company’s anticipated liquidation value, as of March 31, was $9.25 per share, more than 6% below the midpoint of an earlier disclosed liquidation value range of $8.49 to $11.26 per share.

On a May 11 conference call, President and CEO Wendy Silverstein vowed to remain “firm” and “tough” to maximize shareholder value as the liquidation process proceeds.

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