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

Key Points

• Wall Street Zen downgraded Net Lease Office Properties (NYSE:NLOP) from “buy” to “hold” in a note issued Saturday.
• The stock was trading at $11.96, near its 52-week low of $11.23 and well below its 52-week high of $34.53, with shares also under their 50-day and 200-day moving averages.
• The company recently reported Q1 EPS of $1.69 on $9.03 million in revenue, but posted negative net margin and negative return on equity.

Net Lease Office Properties (NYSE:NLOP - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Net Lease Office Properties Stock Performance

Shares of NLOP opened at $11.96 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market capitalization of $177.19 million, a P/E ratio of -1.22 and a beta of 0.65. The company's fifty day moving average is $13.21 and its two-hundred day moving average is $20.33. Net Lease Office Properties has a 1 year low of $11.23 and a 1 year high of $34.53.

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

Hedge Funds Weigh In On Net Lease Office Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Net Lease Office Properties by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,604,699 shares of the company's stock worth $47,595,000 after purchasing an additional 12,702 shares during the period. Thompson Siegel & Walmsley LLC grew its stake 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 worth $13,539,000 after purchasing an additional 243,575 shares during the period. Geode Capital Management LLC grew its stake in shares of Net Lease Office Properties by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 425,130 shares of the company's stock worth $10,966,000 after purchasing an additional 7,623 shares during the period. State Street Corp grew its stake in shares of Net Lease Office Properties by 0.8% during the 4th quarter. State Street Corp now owns 414,965 shares of the company's stock worth $10,702,000 after purchasing an additional 3,158 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Net Lease Office Properties by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 194,758 shares of the company's stock worth $5,023,000 after purchasing an additional 741 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

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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