Bank of America Corp DE Raises Stake in Net Lease Office Properties (NYSE:NLOP)

Bank of America Corp DE boosted its stake in Net Lease Office Properties (NYSE:NLOP) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,008 shares of the company’s stock after purchasing an additional 3,247 shares during the quarter. Bank of America Corp DE owned about 0.15% of Net Lease Office Properties worth $687,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NLOP. Proficio Capital Partners LLC bought a new position in shares of Net Lease Office Properties during the 4th quarter valued at about $401,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Net Lease Office Properties by 9.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,339 shares of the company’s stock worth $166,000 after acquiring an additional 451 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Net Lease Office Properties during the fourth quarter worth approximately $498,000. Mariner LLC raised its stake in shares of Net Lease Office Properties by 83.7% during the fourth quarter. Mariner LLC now owns 23,566 shares of the company’s stock worth $736,000 after buying an additional 10,734 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Net Lease Office Properties by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 127,521 shares of the company’s stock worth $3,980,000 after buying an additional 693 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and issued a $46.00 target price on shares of Net Lease Office Properties in a research note on Thursday, March 6th.

Net Lease Office Properties Stock Performance

Shares of NLOP opened at $31.78 on Tuesday. Net Lease Office Properties has a 12 month low of $22.50 and a 12 month high of $34.38. The firm has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $30.88. The stock has a market capitalization of $470.79 million, a price-to-earnings ratio of -7.43 and a beta of 0.89. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.38.

Net Lease Office Properties Company Profile

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.