Man Group plc Acquires Shares of 103,820 Net Lease Office Properties $NLOP

Key Points

• Man Group plc acquired 103,820 NLOP shares during the second quarter, valued at approximately $1.16 million and representing about 0.70% of the company.
• Several institutional investors also increased or initiated positions, including BlackRock, K2 Principal Fund and Lazard Asset Management; institutional investors collectively own 58.33% of NLOP.
• Analyst sentiment remains negative, with a consensus “Sell” rating. NLOP shares opened at $11.17, near their 52-week low of $10.94 and well below the 52-week high of $30.26.

Man Group plc bought a new position in shares of Net Lease Office Properties (NYSE:NLOP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,820 shares of the company's stock, valued at approximately $1,156,000. Man Group plc owned about 0.70% of Net Lease Office Properties at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Net Lease Office Properties in the 2nd quarter valued at $18,357,000. Thompson Siegel & Walmsley LLC boosted its stake in Net Lease Office Properties by 86.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 524,956 shares of the company's stock valued at $13,539,000 after buying an additional 243,575 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in Net Lease Office Properties in the second quarter valued at about $2,078,000. Millennium Management LLC grew its position in Net Lease Office Properties by 337.6% in the fourth quarter. Millennium Management LLC now owns 163,651 shares of the company's stock valued at $4,221,000 after acquiring an additional 126,250 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Net Lease Office Properties in the first quarter valued at about $1,247,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Net Lease Office Properties in a research note on Friday, August 7th. Wall Street Zen lowered shares of Net Lease Office Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

Net Lease Office Properties Stock Down 0.1%

Shares of NLOP opened at $11.17 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.37 and a current ratio of 2.37. Net Lease Office Properties has a 52 week low of $10.94 and a 52 week high of $30.26. The stock has a market capitalization of $165.47 million, a price-to-earnings ratio of -3.65 and a beta of 0.56. The stock has a fifty day moving average of $11.48 and a 200-day moving average of $12.40.

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.

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