Rangeley Capital LLC Acquires New Position in Net Lease Office Properties (NYSE:NLOP)

Rangeley Capital LLC acquired a new stake in shares of Net Lease Office Properties (NYSE:NLOP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 167,500 shares of the company's stock, valued at approximately $5,228,000. Net Lease Office Properties comprises approximately 4.7% of Rangeley Capital LLC's portfolio, making the stock its 5th largest holding. Rangeley Capital LLC owned 1.13% of Net Lease Office Properties as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Net Lease Office Properties by 1.7% in the third quarter. State Street Corp now owns 399,647 shares of the company's stock valued at $12,237,000 after purchasing an additional 6,731 shares during the period. Geode Capital Management LLC raised its position in shares of Net Lease Office Properties by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 372,442 shares of the company's stock worth $11,627,000 after buying an additional 1,109 shares during the period. Anson Funds Management LP boosted its holdings in Net Lease Office Properties by 46.6% in the third quarter. Anson Funds Management LP now owns 171,505 shares of the company's stock valued at $5,251,000 after acquiring an additional 54,552 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Net Lease Office Properties by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 127,521 shares of the company's stock valued at $3,980,000 after acquiring an additional 693 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 worth $3,592,000 after purchasing an additional 34,985 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a "buy" rating and issued a $46.00 price objective on shares of Net Lease Office Properties in a research report on Thursday, March 6th.

Net Lease Office Properties Stock Up 0.9 %

Shares of NYSE:NLOP traded up $0.25 during mid-day trading on Tuesday, hitting $27.80. 25,687 shares of the company traded hands, compared to its average volume of 173,626. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.95 and a current ratio of 1.95. Net Lease Office Properties has a 52-week low of $22.16 and a 52-week high of $34.38. The firm's 50 day simple moving average is $31.38 and its 200 day simple moving average is $31.16. The firm has a market cap of $411.78 million, a P/E ratio of -4.49 and a beta of 0.96.

Net Lease Office Properties (NYSE:NLOP - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($2.42) earnings per share (EPS) for the quarter. The company 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%. On average, equities analysts anticipate that Net Lease Office Properties will post 2.64 EPS for the current year.

Net Lease Office Properties 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.