Rangeley Capital LLC Invests $5.23 Million in Net Lease Office Properties (NYSE:NLOP)

Rangeley Capital LLC purchased a new stake in Net Lease Office Properties (NYSE:NLOP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 167,500 shares of the company’s stock, valued at approximately $5,228,000. Net Lease Office Properties accounts for about 4.7% of Rangeley Capital LLC’s investment portfolio, making the stock its 5th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Net Lease Office Properties by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 372,442 shares of the company’s stock worth $11,627,000 after purchasing an additional 1,109 shares in the last quarter. National Bank of Canada FI bought a new stake in Net Lease Office Properties during the fourth quarter worth $3,533,000. Arrowstreet Capital Limited Partnership raised its position in Net Lease Office Properties by 43.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 115,078 shares of the company’s stock valued at $3,592,000 after buying an additional 34,985 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Net Lease Office Properties by 56.7% during the 4th quarter. JPMorgan Chase & Co. now owns 62,041 shares of the company’s stock valued at $1,936,000 after acquiring an additional 22,454 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Net Lease Office Properties during the 4th quarter worth $76,000. Institutional investors own 58.33% of the company’s stock.

Net Lease Office Properties Stock Performance

NLOP stock opened at $31.57 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.38. The firm has a market cap of $467.68 million, a PE ratio of -5.10 and a beta of 0.88. The business has a 50 day moving average of $31.54 and a 200-day moving average of $31.20. Net Lease Office Properties has a 12-month low of $22.16 and a 12-month high of $34.38.

Net Lease Office Properties (NYSE:NLOP) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($2.42) earnings per share (EPS) for the quarter. The business had revenue of $27.73 million during the quarter. Net Lease Office Properties had a negative net margin of 122.90% and a negative return on equity of 30.16%. As a group, sell-side analysts expect that Net Lease Office Properties will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

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

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.