Resona Asset Management Co. Ltd. Invests $184,000 in Net Lease Office Properties (NYSE:NLOP)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Net Lease Office Properties (NYSE:NLOP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,977 shares of the company’s stock, valued at approximately $184,000.

Several other institutional investors have also added to or reduced their stakes in NLOP. Charles Schwab Investment Management Inc. raised its stake in shares of Net Lease Office Properties by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 126,828 shares of the company’s stock valued at $3,883,000 after acquiring an additional 2,444 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Net Lease Office Properties during the 3rd quarter valued at approximately $348,000. State Street Corp lifted its holdings in Net Lease Office Properties by 1.7% in the 3rd quarter. State Street Corp now owns 399,647 shares of the company’s stock worth $12,237,000 after buying an additional 6,731 shares during the period. Barclays PLC grew its position in shares of Net Lease Office Properties by 132.1% in the 3rd quarter. Barclays PLC now owns 19,927 shares of the company’s stock worth $611,000 after buying an additional 11,341 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Net Lease Office Properties by 42.0% during the third quarter. JPMorgan Chase & Co. now owns 39,587 shares of the company’s stock valued at $1,212,000 after buying an additional 11,707 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Net Lease Office Properties Price Performance

Shares of NYSE NLOP opened at $26.93 on Friday. Net Lease Office Properties has a 1 year low of $22.16 and a 1 year high of $34.38. The stock has a market capitalization of $398.97 million, a P/E ratio of -4.35 and a beta of 0.96. The company’s 50-day moving average is $30.86 and its 200 day moving average is $31.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.95 and a quick ratio of 1.95.

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

Wall Street Analyst Weigh In

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

About Net Lease Office Properties

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.