Net Lease Office Properties (NYSE:NLOP) Stock Falls 1.3% - Here's What Happened

Key Points

• Net Lease Office Properties shares fell 1.3% to $9.4050, below the prior close of $9.53, with 159,839 shares changing hands.
• Weiss Ratings reaffirmed a “sell (d)” rating, and the stock has an average analyst rating of Sell. NLOP trades below both its 50-day and 200-day moving averages.
• Institutional investors, including BlackRock, Lazard Asset Management and K2 Principal Fund, recently acquired stakes; hedge funds and other institutions collectively own 58.33% of the company.

Shares of Net Lease Office Properties (NYSE:NLOP - Get Free Report) were down 1.3% on Tuesday. The stock traded as low as $9.39 and last traded at $9.4050. 159,839 shares traded hands during trading, The stock had previously closed at $9.53.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Net Lease Office Properties in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Net Lease Office Properties has an average rating of "Sell".

Net Lease Office Properties Price Performance

The firm's fifty day moving average is $10.44 and its 200-day moving average is $12.83. The firm has a market cap of $139.33 million, a price-to-earnings ratio of -3.07 and a beta of 0.64.

Institutional Investors Weigh In On Net Lease Office Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in Net Lease Office Properties in the 1st quarter valued at about $1,247,000. BlackRock Inc. bought a new stake in Net Lease Office Properties during the 2nd quarter worth approximately $18,357,000. K2 Principal Fund L.P. purchased a new stake in shares of Net Lease Office Properties in the second quarter worth $2,078,000. Man Group plc purchased a new stake in shares of Net Lease Office Properties in the 2nd quarter valued at about $1,156,000. Finally, Bank of New York Mellon Corp purchased a new stake in Net Lease Office Properties in the second quarter valued at approximately $633,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

About Net Lease Office Properties

Net Lease Office Properties NYSE: NLOP is a real estate investment trust that owns and manages a portfolio of office properties. The company's properties are generally leased to commercial tenants under net lease arrangements, in which tenants typically assume responsibility for many property-related expenses, including taxes, insurance and maintenance.

NLOP's portfolio is focused primarily on office buildings in the United States and Europe. Its activities include leasing and managing properties, overseeing tenant relationships and pursuing strategies to enhance the performance of its real estate investments.

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