NYC - New York City REIT investor Comrit calls on board to set date for annual meeting

New York City REIT (NYSE:NYC) stockholder Comrit Investments 1 is calling on the REIT's board to set a date for the 2022 annual meeting so that shareholders can vote on whether to elect Comrit's candidate to the board. The activist investor is urging "immediate boardroom change" as it sees "little evidence of the company leadership acting with the appropriate level of care or urgency to advance stockholders' interests." Comrit is concerned about the company's management agreement with its external adviser and contends that its CEO has a conflict of interest. In December, Comrit, which owns ~2% of the company's outstanding shares, nominated Sharon Stern for New York City REIT's (NYC) board then in January sent a letter to the company's shareholders urging boardroom change.

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New York City REIT investor Comrit calls on board to set date for annual meeting