BlackRock Inc. Takes $18.36 Million Position in Net Lease Office Properties $NLOP

Key Points

• BlackRock acquired 1.65 million shares of Net Lease Office Properties in the second quarter, worth approximately $18.36 million and representing an 11.14% stake.
• Institutional investors own 58.33% of NLOP, while the stock recently traded at $11.12—near its 12-month low of $10.94 and well below its high of $30.26.
• Analyst sentiment remains negative: NLOP has an average “Sell” rating, including a recent reaffirmation of a sell rating and a downgrade from buy to hold.

BlackRock Inc. acquired a new stake in shares of Net Lease Office Properties (NYSE:NLOP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,649,290 shares of the company's stock, valued at approximately $18,357,000. BlackRock Inc. owned approximately 11.14% of Net Lease Office Properties at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of Net Lease Office Properties by 498.7% in the first quarter. Jones Financial Companies Lllp now owns 1,407 shares of the company's stock worth $44,000 after purchasing an additional 1,172 shares during the period. BNP Paribas Financial Markets raised its holdings 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 valued at $47,000 after acquiring an additional 580 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Net Lease Office Properties by 198.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the company's stock valued at $56,000 after acquiring an additional 1,139 shares in the last quarter. Strs Ohio bought a new stake in shares of Net Lease Office Properties during the 1st quarter valued at about $88,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Net Lease Office Properties by 704.5% during the 1st 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. Institutional investors own 58.33% of the company's stock.

Net Lease Office Properties Trading Down 0.1%

Shares of NLOP stock opened at $11.12 on Friday. The business has a 50-day moving average price of $11.48 and a two-hundred day moving average price of $12.34. Net Lease Office Properties has a 12-month low of $10.94 and a 12-month high of $30.26. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.13. The firm has a market cap of $164.69 million, a P/E ratio of -3.63 and a beta of 0.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NLOP shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Net Lease Office Properties in a research note on Friday, August 7th. Wall Street Zen cut shares of Net Lease Office Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Net Lease Office Properties currently has an average rating of "Sell".

Net Lease Office Properties 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.

Want to see what other hedge funds are holding NLOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Net Lease Office Properties (NYSE:NLOP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.