Gabelli Funds LLC Increases Holdings in Net Lease Office Properties $NLOP

Gabelli Funds LLC increased its stake in Net Lease Office Properties (NYSE:NLOP) by 20.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,687 shares of the company’s stock after acquiring an additional 24,698 shares during the period. Gabelli Funds LLC owned approximately 0.97% of Net Lease Office Properties worth $4,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Net Lease Office Properties during the 2nd quarter valued at $26,000. Laurel Wealth Advisors LLC lifted its stake in shares of Net Lease Office Properties by 3,157.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 847 shares of the company’s stock worth $26,000 after purchasing an additional 821 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of 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 buying an additional 1,172 shares in the last quarter. Allworth Financial LP boosted its stake in Net Lease Office Properties by 20.0% in the second quarter. Allworth Financial LP now owns 2,392 shares of the company’s stock valued at $78,000 after acquiring an additional 399 shares in the last quarter. Finally, Strs Ohio purchased a new position in Net Lease Office Properties during the 1st quarter worth $88,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Net Lease Office Properties

In related news, Director Richard J. Pinola acquired 1,012 shares of Net Lease Office Properties stock in a transaction dated Wednesday, September 24th. The stock was acquired at an average price of $29.49 per share, for a total transaction of $29,843.88. Following the transaction, the director owned 13,221 shares of the company’s stock, valued at $389,887.29. This represents a 8.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Net Lease Office Properties in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.00.

Net Lease Office Properties Price Performance

Shares of Net Lease Office Properties stock opened at $25.38 on Wednesday. Net Lease Office Properties has a 12 month low of $24.81 and a 12 month high of $34.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $29.03 and a two-hundred day simple moving average of $30.67. The stock has a market capitalization of $375.80 million, a P/E ratio of -2.08 and a beta of 0.80.

Net Lease Office Properties (NYSE:NLOP) last issued its earnings results on Friday, November 7th. The company reported ($4.33) earnings per share (EPS) for the quarter. The company had revenue of $29.78 million during the quarter. Net Lease Office Properties had a negative net margin of 156.16% and a negative return on equity of 34.31%. As a group, analysts predict that Net Lease Office Properties will post 2.64 EPS for the current fiscal year.

Net Lease Office Properties Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, December 19th. Shareholders of record on Thursday, December 4th will be issued a dividend of $4.10 per share. The ex-dividend date is Thursday, December 4th.

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.