BWS Financial Maintains Buy on Net Lease Office, Maintains $46 Price Target
$NLOP
Real Estate Investment Trusts
Real Estate
BWS Financial analyst Hamed Khorsand maintains Net Lease Office (NYSE:NLOP) with a Buy and maintains $46 price target.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/9/2024 | $60.00 | Buy | BWS Financial |
SC 13G/A - Net Lease Office Properties (0001952976) (Subject)
SC 13G/A - Net Lease Office Properties (0001952976) (Subject)
SC 13G/A - Net Lease Office Properties (0001952976) (Subject)
BWS Financial initiated coverage of Net Lease Office Properties with a rating of Buy and set a new price target of $60.00
The worst may be over for commercial real estate (CRE) assets, yet a full recovery is still some distance away, according to a recent report from Goldman Sachs. The analysis, shared by analyst Caitlin Burrows on Friday, indicates that while the annual decline in CRE transaction volumes has likely bottomed out, significant challenges remain for a meaningful country-wide rebound, though some cities are exceptions. CRE Market Has Bottomed, According To Goldman Sachs’s Burrows Goldman Sachs notes that leading indicators suggest the CRE market has seen the worst of its downturn. Drawing comparisons to the Global Financial Crisis (GFC), Burrows explained that it took eight quarters of
BWS Financial analyst Hamed Khorsand maintains Net Lease Office (NYSE:NLOP) with a Buy and maintains $46 price target.
Net proceeds after closing costs were used to repay approximately $48 million on J.P. Morgan's senior secured mortgage and approximately $8 million on its mezzanine loan, in accordance with terms of those facilities. This resulted in outstanding balances of approximately $151 million and $92 million, respectively, as of June 10, 2024
4 - Net Lease Office Properties (0001952976) (Issuer)
4 - Net Lease Office Properties (0001952976) (Issuer)
4 - Net Lease Office Properties (0001952976) (Issuer)
SCHEDULE 13G/A - Net Lease Office Properties (0001952976) (Subject)
8-K - Net Lease Office Properties (0001952976) (Filer)
10-Q - Net Lease Office Properties (0001952976) (Filer)
4 - Net Lease Office Properties (0001952976) (Issuer)
NEW YORK, Aug. 8, 2024 /PRNewswire/ -- Net Lease Office Properties (NYSE:NLOP) today announced the sale of an office property leased to CVS Health Corporation ("CVS") for gross proceeds of $71.5 million. PrimaryTenant PrimaryTenantIndustry Location ABR(at timeof sale) Gross Sale Proceeds SquareFeet NLOP Collateral Pool CVS Health Care Services 9501 Shea Boulevard, Scottsdale, AZ $4.25 million $71.5 million 354,888 Included Net proceeds after closing costs were used to repay approximately $55 million on J.P. Morgan's senior secured mortgage and approximately $8 million on its
NEW YORK, July 10, 2024 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT, today announced that John Park will step down as President of the company effective September 30, 2024. Mr. Park will serve as Senior Advisor to the company through February 2025 and will continue to serve as a Trustee of Net Lease Office Properties (NYSE:NLOP) and the W. P. Carey Foundation. The separate role of President will be eliminated, and the title will be assumed by Jason Fox, the company's Chief Executive Officer. Mr. Park joined W. P. Carey in 1987, working alongside Founder Wm. Polk Carey in various roles of increasing responsibility. He led many of W. P. Carey's transformative transac
NEW YORK, June 11, 2024 /PRNewswire/ -- Net Lease Office Properties (NYSE:NLOP) today announced the sale of two office properties leased to BCBSM, Inc. ("Blue Cross Blue Shield") for gross proceeds totaling $60.7 million. PrimaryTenant PrimaryTenantIndustry Locations ABR(at timeof sale) Gross Sale Proceeds SquareFeet NLOPCollateralPool Blue CrossBlue Shield Managed Health Care 1800 and 3400Yankee DoodleRoad, Eagan, MN $4.7 million $60.7 million 347,472 Included Net proceeds after closing costs were used to repay approximately $48 million on J.P. Morgan's senior secured mortg
NEW YORK, Jan. 29, 2024 /PRNewswire/ -- W. P. Carey Inc. ((W. P. Carey, NYSE:WPC) announced the income tax treatment of dividends reported on Form 1099-DIV for 2023. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of W. P. Carey dividends. CUSIP 92936U109 FORM 1099-DIV Box 1a Box 2a Box 3 Box 1b Box 2b Box 2e Box 2f Box 5 Record Date Payment Date Distribution Per Share Ordinary Dividends Capital Gain Distributions Nondividend Distributions Qualified Dividends(1) Unrecaptured Section 1250 Gain(2) Section 897 Ordinary Dividends(3) Section 897 Capital Gain(4) Section 199A Dividends(5) Section 1061 One-Year Amounts Disclosure(6) Section
NEW YORK, Dec. 8, 2023 /PRNewswire/ -- Net Lease Office Properties (NYSE:NLOP) declared a common share dividend of $0.34 per share (approximately $5.0 million in the aggregate). The dividend is payable on or about January 29, 2024 to shareholders of record as of the close of business on December 18, 2023 (the "Record Date"). This will allow NLOP to comply with the annual distribution requirements applicable to real estate investment trusts under the U.S. Internal Revenue Code of 1986, as amended, while retaining capital and enhancing NLOP's financial flexibility. In accordanc