Lazard Asset Management LLC Invests $1.25 Million in Net Lease Office Properties $NLOP

Key Points

• Lazard Asset Management acquired 108,266 shares of Net Lease Office Properties in the first quarter, worth approximately $1.25 million and representing a 0.73% stake. Institutional investors collectively own 58.33% of the company.
• Analyst sentiment is negative: Wall Street Zen downgraded the stock to “hold,” Weiss Ratings maintained a “sell”-level rating, and MarketBeat reports an average rating of “Sell.”
• NLOP shares opened at $11.94, near the lower end of their $10.94–$34.31 one-year range. The company reported $1.69 earnings per share and $9.03 million in quarterly revenue, but posted a negative net margin of 122.31%.

Lazard Asset Management LLC acquired a new stake in Net Lease Office Properties (NYSE:NLOP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 108,266 shares of the company's stock, valued at approximately $1,247,000. Lazard Asset Management LLC owned 0.73% of Net Lease Office Properties as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC boosted its position in shares of Net Lease Office Properties by 86.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 524,956 shares of the company's stock valued at $13,539,000 after purchasing an additional 243,575 shares in the last quarter. Marnell Management LLC bought a new stake in shares of Net Lease Office Properties in the 4th quarter worth approximately $1,754,000. Rangeley Capital LLC lifted its stake in Net Lease Office Properties by 67.7% during the first quarter. Rangeley Capital LLC now owns 114,870 shares of the company's stock valued at $1,323,000 after purchasing an additional 46,390 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Net Lease Office Properties by 11.3% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 86,365 shares of the company's stock valued at $995,000 after purchasing an additional 8,784 shares during the last quarter. Finally, Able Wealth Management LLC bought a new stake in Net Lease Office Properties during the first quarter worth approximately $124,000. Institutional investors own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Net Lease Office Properties from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings raised Net Lease Office Properties from a "sell (e+)" rating to a "sell (d)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Net Lease Office Properties Price Performance

NLOP stock opened at $11.94 on Wednesday. Net Lease Office Properties has a one year low of $10.94 and a one year high of $34.31. The firm has a 50-day moving average of $11.59 and a two-hundred day moving average of $13.56. The firm has a market capitalization of $176.77 million, a PE ratio of -1.47 and a beta of 0.57. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.13.

Net Lease Office Properties (NYSE:NLOP - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.69 earnings per share for the quarter. Net Lease Office Properties had a negative net margin of 122.31% and a negative return on equity of 34.26%. The business had revenue of $9.03 million for the quarter.

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.

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