Lazard Asset Management LLC Purchases New Stake in Net Lease Office Properties $NLOP

Lazard Asset Management LLC acquired a new position in Net Lease Office Properties (NYSE:NLOP) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 108,266 shares of the company’s stock, valued at approximately $1,247,000.

A number of other institutional investors have also recently bought and sold shares of NLOP. Jones Financial Companies Lllp grew its stake in Net Lease Office Properties by 498.7% during the 1st quarter. Jones Financial Companies Lllp now owns 1,407 shares of the company’s stock valued at $44,000 after acquiring an additional 1,172 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of 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 in the last quarter. Strs Ohio acquired a new stake in shares of Net Lease Office Properties during the first quarter worth approximately $88,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Net Lease Office Properties by 704.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,202 shares of the company’s stock worth $37,000 after purchasing an additional 2,804 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Net Lease Office Properties Stock Performance

Shares of NLOP stock opened at $11.94 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.33 and a quick ratio of 6.33. Net Lease Office Properties has a fifty-two week low of $10.94 and a fifty-two week high of $34.31. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $13.56. The firm has a market cap of $176.77 million, a P/E ratio of -1.47 and a beta of 0.57.

Net Lease Office Properties (NYSE:NLOP) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.69 earnings per share (EPS) for the quarter. The business had revenue of $9.03 million during the quarter. Net Lease Office Properties had a negative return on equity of 34.26% and a negative net margin of 122.31%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NLOP. Weiss Ratings upgraded shares of Net Lease Office Properties from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Net Lease Office Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Net Lease Office Properties currently has an average rating of “Sell”.

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.