Net Lease Office Properties (NYSE:NLOP) Announces Earnings Results

Net Lease Office Properties (NYSE:NLOP) issued its earnings results on Friday. The company reported ($4.33) earnings per share for the quarter, FiscalAI reports. Net Lease Office Properties had a negative return on equity of 27.30% and a negative net margin of 133.62%.The firm had revenue of $29.78 million during the quarter.

Net Lease Office Properties Price Performance

NLOP stock traded up $0.25 during midday trading on Friday, reaching $29.60. 70,430 shares of the company’s stock traded hands, compared to its average volume of 106,065. The company has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $30.91. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.23. Net Lease Office Properties has a 1-year low of $26.10 and a 1-year high of $34.53. The company has a market cap of $438.42 million, a price-to-earnings ratio of -2.79 and a beta of 0.78.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Net Lease Office Properties in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Insider Buying and Selling

In related news, Director Richard J. Pinola purchased 1,012 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were acquired at an average cost of $29.49 per share, with a total value of $29,843.88. Following the completion of the purchase, the director directly owned 13,221 shares of the company’s stock, valued at $389,887.29. This trade represents a 8.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Net Lease Office Properties

A number of institutional investors have recently modified their holdings of NLOP. Ameritas Advisory Services LLC acquired a new stake in shares of Net Lease Office Properties in the second quarter valued at about $26,000. Laurel Wealth Advisors LLC grew its stake in Net Lease Office Properties by 3,157.7% in the second quarter. Laurel Wealth Advisors LLC now owns 847 shares of the company’s stock valued at $26,000 after purchasing an additional 821 shares in the last quarter. Jones Financial Companies Lllp grew its stake 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 valued at $44,000 after purchasing an additional 1,172 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Net Lease Office Properties by 66.8% during the 2nd 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 last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Net Lease Office Properties by 198.8% during the 2nd 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 in the last quarter. 58.33% of the stock is currently owned by institutional investors.

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.