Net Lease Office Properties (NYSE:NLOP) Shares Up 0.2% - Time to Buy?

Key Points

• $3.30 special dividend announced (ex-dividend and record date Monday, March 30) to be paid April 14, a material payout relative to the current ~ $11.72 share price.
• Analyst views are mixed — Wall Street Zen recently upgraded NLOP to a Buy, but the company still carries a consensus rating of "Sell".
• Shares traded around $11.72 on low volume and are well below their 50-day ($15.04) and 200-day ($22.53) moving averages; market cap is ~$173.5M and the P/E is negative (-1.20), signaling continued weakness.

Shares of Net Lease Office Properties (NYSE:NLOP - Get Free Report) shot up 0.2% during trading on Thursday . The stock traded as high as $11.78 and last traded at $11.7180. 112,525 shares traded hands during trading, a decline of 45% from the average session volume of 204,313 shares. The stock had previously closed at $11.69.

Analysts Set New Price Targets

Several brokerages have commented on NLOP. Wall Street Zen upgraded Net Lease Office Properties from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Net Lease Office Properties in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

Net Lease Office Properties Stock Performance

The company has a market capitalization of $173.54 million, a price-to-earnings ratio of -1.20 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a 50 day moving average price of $15.04 and a two-hundred day moving average price of $22.53.

Net Lease Office Properties Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be paid a $3.30 dividend. The ex-dividend date is Monday, March 30th.

Institutional Trading of Net Lease Office Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in NLOP. FNY Investment Advisers LLC acquired a new stake in shares of Net Lease Office Properties in the third quarter valued at $44,000. Jones Financial Companies Lllp increased its position in 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 increased its position in Net Lease Office Properties by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 1,448 shares of the company's stock worth $47,000 after purchasing an additional 580 shares during the period. Tower Research Capital LLC TRC increased its position in Net Lease Office Properties by 198.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the company's stock worth $56,000 after purchasing an additional 1,139 shares during the period. Finally, Sandia Investment Management LP acquired a new stake in Net Lease Office Properties in the fourth quarter worth about $86,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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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