Net Lease Office Properties Declares Special Dividend of $3.30 (NYSE:NLOP)

Net Lease Office Properties (NYSE:NLOP) announced a special dividend on Thursday, March 19th. Shareholders of record on Monday, March 30th will be paid a dividend of 3.30 per share on Tuesday, April 14th. The ex-dividend date is Monday, March 30th.

Net Lease Office Properties Price Performance

Net Lease Office Properties stock traded up $0.64 during mid-day trading on Thursday, hitting $14.45. 175,432 shares of the company were exchanged, compared to its average volume of 298,341. Net Lease Office Properties has a 12-month low of $12.76 and a 12-month high of $34.53. The company has a market capitalization of $214.00 million, a P/E ratio of -1.47 and a beta of 0.77. The business’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $24.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.19 and a quick ratio of 2.19.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Net Lease Office Properties from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d)” rating on shares of Net Lease Office Properties in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently 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.