8-K Announcements
6Material company update
May 7, 2026·SEC
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Feb 25, 2026·SEC
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Jan 20, 2026·SEC
Net Lease Office Properties(NLOP)Earnings, Financials & Key Ratios
NLOP•NYSE•REIT / Real Estate
$11.12
Price updated Jul 7, 2026
AboutNet 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. The portfolio consists of 62 corporate tenants operating in a variety of industries, generating annualized based rent (ABR) of approximately $145 million. NLOP's business plan is to focus on realizing value for its shareholders primarily through strategic asset management and disposition of its property portfolio over time. Given WPC's extensive knowledge of the portfolio, NLOP is externally managed and advised by wholly owned affiliates of WPC to successfully execute on its business strategy. Over the course of its 50-year history, WPC has developed significant expertise in the single-tenant office real estate sector, including the operation, leasing, acquisition and development of assets through many market cycles, and has a proven track record of execution.Show more
- Revenue$119M-16.4%
- FFO-$106M-749.4%
- FFO/Share-7.19-748.0%
- FFO Payout-100.19%-1071.3%
- FFO per Share-7.19-748.0%
- NOI Margin70.05%+1.1%
- FFO Margin-89.53%-916.1%
- ROE-32.89%-127.8%
- ROA-23.09%-166.3%
NLOP Price & Volume
Net Lease Office Properties (NLOP) stock price & volume — 10-year historical chart
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Systematic Asset Liquidation Drives Portfolio Contraction
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Negative
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Asset Liquidation Execution Risk
Key Thesis Takeaways
- Net Lease Office Properties is executing a deliberate liquidation strategy, evidenced by a 68.0% revenue decline in 2026Q1 as the firm prioritizes asset divestment over operational growth.
- While the successful elimination of all debt by 2026Q1 mitigates interest rate risk, the rapid reduction of total assets from $1.3 billion in 2023Q4 to $258.0 million creates significant uncertainty regarding the residual value of remaining holdings.
- Investors should monitor the firm's ability to monetize the final portfolio segments, as the transition from an office REIT to a cash-heavy liquidation vehicle remains subject to execution risks and volatile earnings metrics.
Verdict Logic
the company is in a terminal liquidation phase where the primary value driver is the uncertain residual marketability of remaining assets, as evidenced by the total asset base shrinking by over 80% since 2023Q4.
NLOP Growth Metrics
Net Lease Office Properties (NLOP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-3.86%
3 Years-8.69%
TTM-21.43%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-91.26%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-90.41%
Return on Capital
10 Years3.96%
5 Years3.96%
3 Years4.37%
Last Year6.49%
NLOP Recent Earnings
Net Lease Office Properties (NLOP) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$1.69
—
Rev
$9M
—
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$0.00
—
Rev
$32M
—
Q4 2025
Nov 7, 2025Metric
Actual
Est
EPS
$4.33
—
Rev
$30M
—
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$5.50
—
Rev
$29M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $1.69 | $9M |
| Q1 2026 | Feb 25, 2026 | $0.00 | $32M |
| Q4 2025 | Nov 7, 2025 | $4.33 | $30M |
| Q3 2025 | Aug 6, 2025 | $5.50 | $29M |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Net Lease Office Properties (NLOP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $11.12 | $164.73M | -1.13 | -16.4% | -122.16% | -32.89% | 64.75% | |
| $71.24 | $15.62B | 33.76 | 8.89% | 26.02% | 6.29% | — | |
| $47.44 | $9.03B | 22.92 | 6.55% | 41.38% | 8.81% | — | |
| $31.28 | $6.76B | 24.44 | 24.97% | 43.28% | 6.3% | — | |
| $78.40 | $9.42B | 44.29 | 16.42% | 29.28% | 3.65% | — | |
| $21.96 | $2.18B | 267.80 | 20.91% | 5.66% | 0.78% | — |
Compare NLOP vs Peers
Net Lease Office Properties (NLOP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NLOP SEC Filings & Documents
Net Lease Office Properties (NLOP) SEC filings — annual & quarterly reports (10-K, 10-Q)
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NLOP Frequently Asked Questions
Net Lease Office Properties (NLOP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Net Lease Office Properties's revenue?
Net Lease Office Properties (NLOP) reported $100.1M in revenue for fiscal year 2025. This represents a 31% decrease from $144.8M in 2020.
How fast is Net Lease Office Properties growing?
Net Lease Office Properties (NLOP) saw revenue decline by 16.4% over the past year.
Is NLOP profitable?
Net Lease Office Properties (NLOP) reported a net loss of $120.8M for fiscal year 2025.
Dividend & Returns
Does NLOP pay dividends?
Yes, Net Lease Office Properties (NLOP) pays a dividend with a yield of 64.75%. This makes it attractive for income-focused investors.
What is NLOP's return on equity?
Net Lease Office Properties (NLOP) has a return on equity (ROE) of -32.9%. Negative ROE indicates the company is unprofitable.
Industry Metrics
What is Net Lease Office Properties's FFO?
Net Lease Office Properties (NLOP) generated Funds From Operations (FFO) of $-91.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Is NLOP a good dividend stock?
Net Lease Office Properties (NLOP) offers a 64.75% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.