Net Lease Office Properties (NYSE:NLOP) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Net Lease Office Properties (NYSE:NLOP) from a buy rating to a hold rating in a report issued on Saturday.

Net Lease Office Properties Stock Down 0.6%

Shares of NYSE:NLOP opened at $11.88 on Friday. The stock has a market cap of $175.95 million, a P/E ratio of -1.21 and a beta of 0.65. The firm has a fifty day moving average price of $13.13 and a 200 day moving average price of $20.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.33 and a quick ratio of 6.33. Net Lease Office Properties has a 1-year low of $11.23 and a 1-year high of $34.53.

Net Lease Office Properties (NYSE:NLOP) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.69 earnings per share for the quarter. The firm had revenue of $9.03 million during the quarter. Net Lease Office Properties had a negative net margin of 122.31% and a negative return on equity of 34.24%.

Net Lease Office Properties Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 30th. Net Lease Office Properties’s dividend payout ratio is currently -3.47%.

Institutional Trading of Net Lease Office Properties

Several hedge funds have recently made changes to their positions in NLOP. PNC Financial Services Group Inc. lifted its stake in shares of Net Lease Office Properties by 704.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,202 shares of the company’s stock worth $37,000 after acquiring an additional 2,804 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Net Lease Office Properties in the 3rd quarter worth $44,000. Jones Financial Companies Lllp lifted its stake in shares of Net Lease Office Properties by 498.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,407 shares of the company’s stock worth $44,000 after acquiring an additional 1,172 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Net Lease Office Properties by 66.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,448 shares of the company’s stock worth $47,000 after acquiring an additional 580 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Net Lease Office Properties by 1,870.7% in the 1st quarter. Parallel Advisors LLC now owns 4,848 shares of the company’s stock worth $56,000 after acquiring an additional 4,602 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

About Net Lease Office Properties

Net Lease Office Properties (NYSE:NLOP) is a real estate investment trust organized to acquire and manage single-tenant office properties subject to long-term net leases. The company seeks to generate stable, contracting cash flows by entering into sale-leaseback transactions and investment-grade lease agreements with corporate tenants. NLOP’s portfolio is intended to provide investors with exposure to a diversified base of office assets while retaining the structural benefits of net lease arrangements.

The REIT’s business model centers on acquiring office buildings that are leased to creditworthy tenants under triple-net leases, whereby the tenant is responsible for property taxes, insurance and maintenance.