Rangeley Capital LLC Acquires 46,390 Shares of Net Lease Office Properties $NLOP

Rangeley Capital LLC grew its stake in Net Lease Office Properties (NYSE:NLOP) by 67.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,870 shares of the company’s stock after purchasing an additional 46,390 shares during the quarter. Net Lease Office Properties comprises approximately 1.2% of Rangeley Capital LLC’s holdings, making the stock its 27th largest holding. Rangeley Capital LLC owned 0.78% of Net Lease Office Properties worth $1,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Net Lease Office Properties by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,604,699 shares of the company’s stock worth $47,595,000 after buying an additional 12,702 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in Net Lease Office Properties by 86.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 524,956 shares of the company’s stock worth $13,539,000 after purchasing an additional 243,575 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Net Lease Office Properties by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 425,130 shares of the company’s stock worth $10,966,000 after buying an additional 7,623 shares in the last quarter. State Street Corp grew its stake in shares of Net Lease Office Properties by 0.8% during the 4th quarter. State Street Corp now owns 414,965 shares of the company’s stock worth $10,702,000 after acquiring an additional 3,158 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Net Lease Office Properties by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 194,758 shares of the company’s stock valued at $5,023,000 after purchasing an additional 741 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Net Lease Office Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised Net Lease Office Properties from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Net Lease Office Properties presently has an average rating of “Sell”.

Net Lease Office Properties Price Performance

Shares of NLOP opened at $11.32 on Monday. The company’s 50-day moving average is $11.57 and its 200-day moving average is $13.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.33 and a quick ratio of 6.33. The firm has a market capitalization of $167.72 million, a PE ratio of -1.39 and a beta of 0.59. Net Lease Office Properties has a fifty-two week low of $10.94 and a fifty-two week high of $34.31.

Net Lease Office Properties (NYSE:NLOP) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.69 earnings per share (EPS) for the quarter. The company 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%.

About Net Lease Office Properties

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.