Net Lease Office Properties (NYSE:NLOP) Announces Quarterly Earnings Results

Net Lease Office Properties (NYSE:NLOP) announced its quarterly earnings results on Thursday. The company reported $1.69 EPS for the quarter, FiscalAI reports. 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 Price Performance

Shares of NYSE:NLOP traded down $1.15 during trading on Friday, hitting $11.96. 316,834 shares of the company’s stock were exchanged, compared to its average volume of 182,131. The business’s 50-day simple moving average is $13.21 and its 200 day simple moving average is $20.33. The company has a market cap of $177.19 million, a price-to-earnings 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 company has a debt-to-equity ratio of 0.07, a current ratio of 2.19 and a quick ratio of 2.19.

Net Lease Office Properties Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NLOP. PNC Financial Services Group Inc. increased its position in Net Lease Office Properties by 704.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,202 shares of the company’s stock worth $37,000 after purchasing an additional 2,804 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Net Lease Office Properties during the 3rd quarter valued at about $44,000. Jones Financial Companies Lllp lifted its holdings 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 valued at $44,000 after acquiring an additional 1,172 shares during the last quarter. BNP Paribas Financial Markets grew its position in Net Lease Office Properties by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 1,448 shares of the company’s stock worth $47,000 after acquiring an additional 580 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in 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 worth $56,000 after acquiring an additional 4,602 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Net Lease Office Properties from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

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.