Net Lease Office Properties (NYSE:NLOP) Downgraded by Wall Street Zen to Hold

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

Net Lease Office Properties Stock Down 8.8%

NLOP opened at $11.96 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 $177.14 million, a P/E ratio of -1.22 and a beta of 0.65. Net Lease Office Properties has a 52 week low of $11.23 and a 52 week high of $34.53. The business’s fifty day simple moving average is $13.21 and its 200 day simple moving average is $20.33.

Net Lease Office Properties (NYSE:NLOP) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.69 EPS for the quarter. The business had revenue of $9.03 million for the quarter. Net Lease Office Properties had a negative return on equity of 31.89% and a negative net margin of 122.16%.

Net Lease Office Properties Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, March 30th.

Institutional Trading of Net Lease Office Properties

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Net Lease Office Properties by 704.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,202 shares of the company’s stock valued at $37,000 after acquiring an additional 2,804 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Net Lease Office Properties by 1,870.7% during the first quarter. Parallel Advisors LLC now owns 4,848 shares of the company’s stock valued at $56,000 after acquiring an additional 4,602 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Net Lease Office Properties during the first quarter valued at $384,000. Kestra Advisory Services LLC boosted its stake in Net Lease Office Properties by 51.6% in the 1st quarter. Kestra Advisory Services LLC now owns 12,198 shares of the company’s stock worth $141,000 after buying an additional 4,153 shares during the last quarter. Finally, Able Wealth Management LLC acquired a new stake in Net Lease Office Properties in the 1st quarter worth about $124,000. 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.