Gabelli Funds LLC Takes $1.31 Million Position in Net Lease Office Properties (NYSE:NLOP)

Gabelli Funds LLC purchased a new stake in Net Lease Office Properties (NYSE:NLOP) during the first quarter, Holdings Channel.com reports. The firm purchased 55,128 shares of the company’s stock, valued at approximately $1,312,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Net Lease Office Properties by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,509,945 shares of the company’s stock worth $35,937,000 after buying an additional 30,237 shares during the last quarter. Waterfront Capital Partners LLC purchased a new position in Net Lease Office Properties during the 4th quarter worth $2,671,000. K2 Principal Fund L.P. acquired a new stake in Net Lease Office Properties during the 1st quarter worth about $2,599,000. SG Americas Securities LLC lifted its position in Net Lease Office Properties by 56.2% during the 1st quarter. SG Americas Securities LLC now owns 105,380 shares of the company’s stock worth $2,508,000 after acquiring an additional 37,908 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in Net Lease Office Properties during the 4th quarter worth about $1,531,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and set a $46.00 price target on shares of Net Lease Office Properties in a research report on Thursday, June 13th.

Net Lease Office Properties Stock Down 0.5 %

NLOP traded down $0.15 on Friday, reaching $28.75. 398,787 shares of the stock were exchanged, compared to its average volume of 337,510. The company’s 50-day moving average price is $24.66 and its 200 day moving average price is $24.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 1.68. Net Lease Office Properties has a fifty-two week low of $9.50 and a fifty-two week high of $50.00.

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.