Gyrodyne Discusses Strategic Property Sales at Shareholders Meeting
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Gyrodyne Company of America (GYRO) discussed strategic property sales at its 2025 Annual Shareholders Meeting. CEO Gary Fitlin highlighted efforts to navigate economic challenges and enhance governance, focusing on selling properties, including a 49-acre transaction at Flowerfield, pending approvals. The company is also exploring mixed-use development for its Cortlandt Manor property. Despite a decrease in NAV per share, total NAV rose due to real estate value changes. Gyrodyne is effectively managing debt amid rising interest rates and aims to maximize shareholder distributions through property sales.
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