Short Interest in Net Lease Office Properties (NYSE:NLOP) Drops By 30.7%

Key Points

• Net Lease Office Properties (NYSE:NLOP) experienced a 30.7% decrease in short interest during July, dropping from 314,700 shares to 218,100 shares.
• Institutional investors now hold 58.33% of NLOP's stock, with notable increases from several firms in the second quarter.
• The company announced a special dividend of $3.10 per share to be paid on September 3rd, benefiting investors of record as of August 18th.

Net Lease Office Properties (NYSE:NLOP - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 218,100 shares, adeclineof30.7% from the July 15th total of 314,700 shares. Currently,1.5% of the company's stock are short sold. Based on an average daily trading volume, of 70,000 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily trading volume, of 70,000 shares, the days-to-cover ratio is presently 3.1 days. Currently,1.5% of the company's stock are short sold.

Net Lease Office Properties Stock Performance

Net Lease Office Properties stock traded up $0.5050 during trading hours on Friday, reaching $29.9950. 87,355 shares of the company were exchanged, compared to its average volume of 151,242. The firm has a market cap of $444.35 million, a price-to-earnings ratio of -2.82 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $32.79 and a 200 day moving average of $31.38. Net Lease Office Properties has a 12 month low of $26.10 and a 12 month high of $34.53.

Net Lease Office Properties Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be paid a $3.10 dividend. Net Lease Office Properties's payout ratio is -3.20%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Net Lease Office Properties by 3,104.9% in the first quarter. GAMMA Investing LLC now owns 15,031 shares of the company's stock valued at $479,000 after purchasing an additional 14,562 shares in the last quarter. VELA Investment Management LLC acquired a new position in shares of Net Lease Office Properties in the first quarter valued at $891,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Net Lease Office Properties by 58.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,469 shares of the company's stock valued at $267,000 after purchasing an additional 3,130 shares in the last quarter. Fifth Lane Capital LP acquired a new position in shares of Net Lease Office Properties in the first quarter valued at $251,000. Finally, Millennium Management LLC raised its stake in shares of Net Lease Office Properties by 13.3% in the fourth quarter. Millennium Management LLC now owns 120,208 shares of the company's stock valued at $3,752,000 after purchasing an additional 14,108 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

About Net Lease Office Properties

Net Lease Office Properties NYSE: NLOP is a publicly traded real estate investment trust with a portfolio of 59 high-quality office properties, totaling approximately 8.7 million leasable square feet primarily leased to corporate tenants on a single-tenant net lease basis. The vast majority of the office properties owned by NLOP are located in the U.S., with the balance in Europe.