Net Lease Office Properties to Issue Special Dividend of $6.75 (NYSE:NLOP)

Net Lease Office Properties (NYSE:NLOP) announced a special dividend on Tuesday, January 20th. Investors of record on Friday, January 30th will be given a dividend of 6.75 per share on Tuesday, February 17th.

Net Lease Office Properties Trading Up 0.5%

NLOP stock opened at $19.79 on Wednesday. The business has a fifty day moving average price of $25.46 and a 200 day moving average price of $28.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.07 and a quick ratio of 1.07. Net Lease Office Properties has a fifty-two week low of $19.28 and a fifty-two week high of $34.53. The stock has a market capitalization of $293.08 million, a price-to-earnings ratio of -1.62 and a beta of 0.80.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Net Lease Office Properties in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.00.

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.