GABELLI & Co INVESTMENT ADVISERS INC. Sells 38,153 Shares of Net Lease Office Properties $NLOP

GABELLI & Co INVESTMENT ADVISERS INC. decreased its position in shares of Net Lease Office Properties (NYSE:NLOP) by 25.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,200 shares of the company’s stock after selling 38,153 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.76% of Net Lease Office Properties worth $3,358,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NLOP. Laurel Wealth Advisors LLC grew its stake in shares of 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 valued at $26,000 after buying an additional 821 shares during the last quarter. Jones Financial Companies Lllp lifted its stake 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 acquiring an additional 1,172 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 valued at $47,000 after acquiring an additional 580 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 valued at $56,000 after acquiring an additional 1,139 shares during the period. Finally, Allworth Financial LP grew its position in 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 acquiring an additional 399 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Net Lease Office Properties Stock Performance

Shares of NLOP opened at $14.32 on Friday. The company has a market cap of $212.08 million, a price-to-earnings ratio of -1.46 and a beta of 0.77. The business’s fifty day simple moving average is $18.64 and its two-hundred day simple moving average is $25.23. Net Lease Office Properties has a 12 month low of $12.76 and a 12 month high of $34.53. 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 Dividend Announcement

The business also recently declared a special dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th were paid a $6.75 dividend.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Net Lease Office Properties from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Net Lease Office Properties in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.