William J. Carden, the real estate investment company's chairman, president and CEO and directors John N. Galardi purchased the shares. They also said, through a corporate press release, that they may, jointly or individually, purchase shares of common stock in the future, subject to the Company's blackout dates and Securities and Exchange Commissions rules and regulations. Calls to American Spectrum were not returned seeking comment.
Earlier this month, American Spectrum Realty unveiled its results for Q1 2009. Total revenue increased $627,000, or 7.6% over the same time a year ago, due to revenue from an office asset acquired during Q2 2008. The weighted average of the company's portfolio was 85%.
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