Net Lease Office Properties (NYSE:NLOP) Sets New 12-Month High – Still a Buy?

Shares of Net Lease Office Properties (NYSE:NLOP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.80 and last traded at $34.24, with a volume of 31598 shares changing hands. The stock had previously closed at $33.25.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $46.00 target price on shares of Net Lease Office Properties in a research note on Thursday, November 14th.

Net Lease Office Properties Trading Down 2.9 %

The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $31.40 and its 200 day moving average is $30.90.

Institutional Investors Weigh In On Net Lease Office Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in Net Lease Office Properties during the third quarter worth about $34,000. KLP Kapitalforvaltning AS bought a new position in shares of Net Lease Office Properties during the fourth quarter worth approximately $76,000. Tower Research Capital LLC TRC raised its position in shares of Net Lease Office Properties by 113.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,515 shares of the company’s stock valued at $78,000 after buying an additional 1,339 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Net Lease Office Properties by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,952 shares of the company’s stock worth $152,000 after acquiring an additional 556 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Net Lease Office Properties in the 4th quarter valued at $161,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Net Lease Office Properties Company Profile

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 59 high-quality office properties, totaling approximately 8.7 million leasable square feet primarily leased to corporate tenants on a single-tenant net lease basis. The vast majority of the office properties owned by NLOP are located in the U.S., with the balance in Europe.