Net Lease Office Properties
NLOPNYSEReal Estate · Real Estate Investment Trusts · MD · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | |
|---|---|---|---|---|---|
| Revenue | $118.9M | $142.2M | $175.0M | $156.2M | $147.9M |
| Operating income | — | — | — | — | — |
| Net income | −$145.3M | −$91.5M | −$131.7M | $15.8M | $1.4M |
| Total assets | $453.4M | $805.1M | $1.31B | $1.46B | — |
| Total liabilities | $155.5M | $219.7M | $623.7M | $352.7M | — |
| Equity | $293.9M | $581.2M | $677.0M | $1.11B | $1.06B |
| EPS (diluted) | $-9.81 | $-6.18 | $-9.00 | $1.08 | — |
| Shares out. | 14.8M | 14.8M | 14.6M | 14.6M | 14.6M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- −122.2%
- Return on equity
- −49.4%
- Return on assets
- −32.0%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 34.3%
- Debt / equity
- 0.53×
- Book value / share
- $19.84
- Revenue growth (YoY)
- −16.4%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −46.2%clean
- Piotroski F-Score
- 3/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 warning● 3 good- Reported a net loss
- Revenue declined year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Capital Management LlcPassive (13G)Apr 30, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- Asset Value Investors LtdActivist (13D)Jan 9, 2026
- Long Pond Capital, LpPassive (13G)May 14, 2025
- Morgan StanleyPassive (13G)Mar 6, 2025
- J. Goldman & Co LpPassive (13G)Nov 14, 2024
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Pinola Richard JDirector | Sep 24, 2025 | Buy | 1,012 | $29.49 |
| Hoysradt JeanDirector | Nov 2, 2024 | Option exercise | 136 | $0.00 |
| Hansing Axel K.A.Director | Nov 2, 2024 | Option exercise | 136 | $0.00 |
| Pinola Richard JDirector | Nov 2, 2024 | Option exercise | 136 | $0.00 |
| Pinola Richard JDirector | Mar 8, 2024 | Buy | 2,066 | $24.21 |
| Hansing Axel K.A.Director | Jan 19, 2024 | J | 15 | $0.00 |
| Park John JDirector | Jan 19, 2024 | J | 456 | $0.00 |
| Zander Brian HOfficer — Chief Accounting Officer | Jan 19, 2024 | J | 2 | $0.00 |
| Fox Jason E.Officer — Chief Executive Officer | Jan 19, 2024 | J | 508 | $0.00 |
| Pinola Richard JDirector | Jan 19, 2024 | J | 5 | $0.00 |
| Sanzone ToniannOfficer — Chief Financial Officer | Jan 19, 2024 | J | 42 | $0.00 |
| Hoysradt JeanDirector | Jan 19, 2024 | J | 18 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 657,158 | 3.8 | +4.5% |
| Apr 30, 2026 | 629,103 | 3.9 | +6.7% |
| Apr 15, 2026 | 589,522 | 3.0 | -8.1% |
| Mar 31, 2026 | 641,697 | 2.6 | +31.3% |
| Mar 13, 2026 | 488,839 | 2.4 | +5.7% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Regulation FD disclosureMay 7, 2026
- Regulation FD disclosureFeb 25, 2026
- Completed an acquisition or dispositionJan 20, 2026
- Regulation FD disclosureNov 7, 2025
- Regulation FD disclosureAug 6, 2025
- Shareholder voteJun 17, 2025
- Regulation FD disclosureMay 8, 2025
- Regulation FD disclosureFeb 27, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- DEFA14AMay 27, 2026
- 8-KMay 7, 2026
- 10-QMay 7, 2026
- SCHEDULE 13GApr 30, 2026
- DEFA14AApr 16, 2026
- DEF 14AApr 16, 2026
- PRE 14AApr 2, 2026
- SCHEDULE 13G/AMar 27, 2026
- 8-KFeb 25, 2026
- 10-KFeb 25, 2026
- 8-KJan 20, 2026
- SCHEDULE 13DJan 9, 2026
- 8-KNov 7, 2025
- 10-QNov 7, 2025
- 4FORM 4Sep 25, 2025
Corporate family
Spun off from W. P. Carey IncWPC · Oct 4, 2023
From the spin-off filings we track. Follow a company to walk its own history.