Net Lease Office Properties (NLOP)
Leases U.S. office properties to corporate tenants while selling the remaining portfolio.
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Generates rental income from U.S. office properties leased to corporate tenants under single-tenant net leases. Spun out of W. P. Carey, the REIT is selling its remaining assets and returning sale proceeds to shareholders.
Rental income comes from a single reportable segment: U.S. office properties leased to corporate tenants under single-tenant net leases. Those leases generally place most property operating and maintenance costs with tenants.
Formed for W. P. Carey's 2023 office-property spin-off, the REIT is not pursuing portfolio growth. It seeks to realize shareholder value through strategic asset management, property dispositions, and periodic distributions from net sale proceeds.
Operations rely on remaining corporate leases, the execution of property sales, and management and advisory services from W. P. Carey affiliates. After selling all or substantially all properties, it expects to seek termination and wind up its affairs.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $23.7M · Total debt $21.9M · Total assets $200.9M · Shareholders' equity $163.8M
- Revenue
- $6.4M
- Operating income
- $636.0K
- Net income
- −$6.2M
| Institutions | 56.60% | 8.39M shares | |
|---|---|---|---|
| 242 holders · as of Jun 30, 2026 | |||
| Insiders | 0.24% | 35.1K shares | |
| 3 holders · as of Sep 25, 2025 | |||
| Other | 43.16% | 6.39M shares | |
| remainder | |||
14.81M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.13% | 1.65M | as of Jun 30, 2026 |
Thompson Siegel & Walmsley LLCInstitution | 4.75% | 703,199 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.42% | 654,700 | as of Jun 30, 2026 |
State Street CorpInstitution | 3.04% | 450,213 | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.61% | 386,641 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 24, 2025 | Richard J. Pinola | director | +1,012 | $29.49 |
- Orion Properties
Single-tenant, net-leased suburban office properties
- Office Properties Income Trust
National office leasing for high-credit-quality tenants
- Piedmont Realty Trust
Class A office properties across major U.S. Sunbelt markets
- Highwoods Properties
Office REIT serving major U.S. business districts
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Net Lease Office Properties | $10.45 | −1.51% | $157.2M | — | — | 2.0 | −78.2% |
| Orion Properties | $2.53 | −1.75% | $146.1M | — | — | 1.0 | −8.0% |
| Office Properties Income Trust | $17.72 | +0.23% | $1.31B | — | — | 3.0 | +2.0% |
| Piedmont Realty Trust | $9.20 | −1.87% | $1.17B | — | — | 2.1 | +29.7% |
| Highwoods Properties | $30.09 | −2.15% | $3.39B | 20.2 | 35.8 | 4.1 | +7.9% |
| Median | 20.2 | 35.8 | 2.5 | +5.0% |