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, HoldingsChannel reports. The firm owned 114,870 shares of the company’s stock after buying an additional 46,390 shares during the quarter. Net Lease Office Properties accounts for about 1.2% of Rangeley Capital LLC’s investment portfolio, making the stock its 27th largest holding. Rangeley Capital LLC’s holdings in Net Lease Office Properties were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC grew its position in shares of Net Lease Office Properties by 86.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 524,956 shares of the company’s stock valued at $13,539,000 after buying an additional 243,575 shares during the last quarter. Millennium Management LLC increased its position in Net Lease Office Properties by 337.6% during the 4th quarter. Millennium Management LLC now owns 163,651 shares of the company’s stock valued at $4,221,000 after purchasing an additional 126,250 shares during the period. Marnell Management LLC bought a new position in Net Lease Office Properties during the 4th quarter worth approximately $1,754,000. Raymond James Financial Inc. raised its holdings in Net Lease Office Properties by 634.2% during the 3rd quarter. Raymond James Financial Inc. now owns 56,617 shares of the company’s stock worth $1,679,000 after purchasing an additional 48,906 shares during the last quarter. Finally, Man Group plc lifted its holdings in Net Lease Office Properties by 143.8% in the fourth quarter. Man Group plc now owns 57,912 shares of the company’s stock valued at $1,494,000 after buying an additional 34,159 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Net Lease Office Properties Trading Down 0.1%

Shares of Net Lease Office Properties stock opened at $11.32 on Monday. Net Lease Office Properties has a 1 year low of $10.94 and a 1 year high of $34.31. The stock has a fifty day moving average price of $11.57 and a 200-day moving average price of $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 cap of $167.72 million, a PE ratio of -1.39 and a beta of 0.59.

Net Lease Office Properties (NYSE:NLOP) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.69 EPS for the quarter. Net Lease Office Properties had a negative net margin of 122.31% and a negative return on equity of 34.26%. The business had revenue of $9.03 million for the quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen lowered Net Lease Office Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Net Lease Office Properties from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.