Hsbc Holdings PLC Takes $586,000 Position in Net Lease Office Properties (NYSE:NLOP)

Hsbc Holdings PLC bought a new position in shares of Net Lease Office Properties (NYSE:NLOP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,891 shares of the company’s stock, valued at approximately $586,000. Hsbc Holdings PLC owned 0.22% of Net Lease Office Properties as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Net Lease Office Properties in the fourth quarter valued at $29,000. South Dakota Investment Council purchased a new stake in shares of Net Lease Office Properties in the fourth quarter worth about $30,000. Spirit of America Management Corp NY acquired a new stake in Net Lease Office Properties during the fourth quarter worth about $34,000. Allworth Financial LP purchased a new position in Net Lease Office Properties during the fourth quarter valued at approximately $41,000. Finally, PGGM Investments acquired a new position in Net Lease Office Properties in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Net Lease Office Properties Trading Up 5.0 %

Shares of NLOP stock traded up $1.18 during mid-day trading on Friday, hitting $24.81. 289,163 shares of the stock were exchanged, compared to its average volume of 235,735. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.80. Net Lease Office Properties has a 52-week low of $9.50 and a 52-week high of $50.00. The stock’s fifty day moving average price is $23.60.

Analysts Set New Price Targets

Separately, BWS Financial assumed coverage on shares of Net Lease Office Properties in a research note on Friday, February 9th. They issued a “buy” rating and a $60.00 target price for the company.

Insider Buying and Selling

In other Net Lease Office Properties news, Director Richard J. Pinola bought 2,066 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $24.21 per share, for a total transaction of $50,017.86. Following the transaction, the director now directly owns 12,028 shares of the company’s stock, valued at approximately $291,197.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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.