Net Lease Office Properties (NYSE:NLOP) Stock Price Down 1.7% – What’s Next?

Net Lease Office Properties (NYSE:NLOP) shares were down 1.7% during trading on Monday. The company traded as low as $9.51 and last traded at $9.59. Approximately 206,671 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 171,554 shares. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Net Lease Office Properties in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Net Lease Office Properties Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market capitalization of $141.81 million, a price-to-earnings ratio of -3.13 and a beta of 0.64. The stock has a 50 day moving average price of $11.04 and a 200-day moving average price of $11.69.

Institutional Investors Weigh In On Net Lease Office Properties

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in Net Lease Office Properties during the second quarter worth $198,000. Bank of America Corp DE acquired a new stake in shares of Net Lease Office Properties during the 2nd quarter worth about $251,000. Bluefin Capital Management LLC acquired a new stake in shares of Net Lease Office Properties during the 2nd quarter worth about $278,000. Man Group plc purchased a new stake in Net Lease Office Properties in the 2nd quarter valued at about $1,156,000. Finally, Allworth Financial LP acquired a new position in Net Lease Office Properties in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

About Net Lease Office Properties

Net Lease Office Properties (NYSE:NLOP) is a real estate investment trust focused on owning and managing office properties leased to commercial tenants. The company’s properties are generally subject to long-term, single-tenant net leases, under which tenants are typically responsible for property taxes, insurance and maintenance costs.

NLOP was established through a spinoff from W. P. Carey in 2023. At formation, the company received a portfolio of office properties located primarily in the United States, including assets across numerous states and the District of Columbia.