Added to YB: 2024-02-23
Pitch date: 2024-02-22
NLOP [bullish]
Net Lease Office Properties
+41.36%
current return
Author Info
Rodin Capital is a student at the University of Pennsylvania who shares investing ideas in his newsletter. Sign up for the newsletter.
Company Info
Net Lease Office Properties is a publicly traded real estate investment trust that owns a portfolio of high-quality, single-tenant properties located in the U.
Market Cap
$195.8M
Pitch Price
$8.36
Price Target
N/A
Dividend
51.06%
EV/EBITDA
1.55
P/E
-1.35
EV/Sales
0.97
Sector
Office REITs
Category
special_situation
A Reminiscences of Host Marriott: Net Lease Office Properties - $NLOP
$NLOP office REIT trading at 0.5x liquidation value w/ 97% occ, 5.7yr WALT, 66% IG tenants. Debt headwinds but strategic paydown could unlock value. JPM sees 68-87% upside to NAV. Property sales at non-distressed prices. Risks: office mkt, rates, slow progress.
Read full article (6 min)