Founder, BWS Financial Inc

Hamed Khorsand

Founder

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BWS Financial Inc

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Equity Bottom-Up

NET Lease Office Properties / Equity Bottom-Up

<ul>
<li>Net Lease Office Products (NLOP) reported its first quarterly report since being spun off late last year.</li>
<li>The takeaway from the results was how the Company was structuring the balance sheet ahead of more properties being sold.</li>
<li>There were a series of lease signings and extensions within the December quarter. Most notably were the extensions for the property in Poland and Wisconsin</li>
</ul>


Net Lease Office Products (NLOP) reported its first quarterly report since being spun off late last year.
The takeaway from the results was how the Company was structuring the balance sheet ahead of more properties being sold.
There were a series of lease signings and extensions within the December quarter. Most notably were the extensions for the property in Poland and Wisconsin


<ul>
<li>We are initiating coverage of Net Lease Office Products (NLOP) with a Buy Rating and $60 target.</li>
<li>NLOP is trading at a fraction of its book value as the Company gets lumped into the negative investor sentiment towards office buildings.</li>
<li>NLOP was created and spun out of W. P. Carey (WPC) to oversee the liquidation of 59 office properties.</li>
</ul>


We are initiating coverage of Net Lease Office Products (NLOP) with a Buy Rating and $60 target.
NLOP is trading at a fraction of its book value as the Company gets lumped into the negative investor sentiment towards office buildings.
NLOP was created and spun out of W. P. Carey (WPC) to oversee the liquidation of 59 office properties.


NLOP: A Contrarian Deep Value Asset Story

United States

NET Lease Office Properties operates as a real estate investment trust. The Company owns and manages office properties and certain other assets. NET Lease Office Properties serves customers in the United States.

NET Lease Office Properties (NLOP US)

NLOP: Starting Point for the Year

NLOP disclosed one property being sold where there was an impairment of $1.1 million compared to its book value. We expect more asset sales in 2024...

BWS Financial Inc

NLOP: A Contrarian Deep Value Asset Story

NLOP was created to sell 59 mostly single tenant properties. The portfolio is now down to 55. The valuation of the buildings sold suggest NLOP...

BWS Financial Inc