Gabelli Funds LLC Has $2.66 Million Stake in Net Lease Office Properties $NLOP

Gabelli Funds LLC trimmed its position in shares of Net Lease Office Properties (NYSE:NLOP) by 37.7% in the third quarter, Holdings Channel reports. The fund owned 89,526 shares of the company’s stock after selling 54,161 shares during the quarter. Gabelli Funds LLC’s holdings in Net Lease Office Properties were worth $2,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in NLOP. Laurel Wealth Advisors LLC increased its position in Net Lease Office Properties by 3,157.7% during the second quarter. Laurel Wealth Advisors LLC now owns 847 shares of the company’s stock worth $26,000 after acquiring an additional 821 shares during the period. Jones Financial Companies Lllp boosted its holdings in Net Lease Office Properties by 498.7% in the 1st 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 during the period. BNP Paribas Financial Markets grew its position in Net Lease Office Properties by 66.8% in 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. Tower Research Capital LLC TRC increased its holdings 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 during the period. Finally, Allworth Financial LP increased its holdings in shares of Net Lease Office Properties by 20.0% during the 2nd quarter. Allworth Financial LP now owns 2,392 shares of the company’s stock worth $78,000 after purchasing an additional 399 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Net Lease Office Properties Stock Down 0.0%

NYSE NLOP opened at $14.17 on Wednesday. Net Lease Office Properties has a 1-year low of $12.76 and a 1-year high of $34.53. The company has a market capitalization of $209.80 million, a price-to-earnings ratio of -1.45 and a beta of 0.77. The stock’s 50 day moving average is $18.18 and its two-hundred day moving average is $24.94. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.07.

Net Lease Office Properties Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 30th were given a dividend of $6.75 per share.

Wall Street Analysts Forecast Growth

NLOP has been the subject of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Net Lease Office Properties in a research note on Monday, December 29th. Wall Street Zen upgraded Net Lease Office Properties from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Net Lease Office Properties currently has an average rating of “Sell”.

Net Lease Office Properties 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.