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

Net Lease Office Properties (NYSE:NLOP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Net Lease Office Properties in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Net Lease Office Properties currently has a consensus rating of “Hold” and an average price target of $46.00.

Net Lease Office Properties Stock Performance

NLOP stock opened at $13.65 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.07. The firm has a market cap of $202.08 million, a PE ratio of -1.39 and a beta of 0.77. The business has a 50 day moving average of $19.77 and a 200-day moving average of $25.75. Net Lease Office Properties has a 12-month low of $12.76 and a 12-month high of $34.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC raised its holdings in Net Lease Office Properties by 20.8% during the 2nd quarter. Gabelli Funds LLC now owns 143,687 shares of the company’s stock valued at $4,677,000 after acquiring an additional 24,698 shares during the period. Graham Capital Wealth Management LLC purchased a new position in shares of Net Lease Office Properties in the second quarter valued at $1,979,000. Marex Group plc purchased a new position in shares of Net Lease Office Properties in the second quarter valued at $1,015,000. Geode Capital Management LLC raised its stake in shares of Net Lease Office Properties by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 420,381 shares of the company’s stock valued at $13,686,000 after purchasing an additional 6,153 shares during the period. Finally, Savant Capital LLC purchased a new stake in Net Lease Office Properties during the 2nd quarter worth about $205,000. Institutional investors own 58.33% of the company’s stock.

Net Lease Office Properties Company Profile

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.