Triple Net REITs Mispriced As Tenancy Shifts [Seeking Alpha]
Net Lease Office Properties Common Shares of Beneficial Interest (NLOP)
Company Research
Source: Seeking Alpha
Net store openings indicate positive occupancy and rental rates, but some REITs are exposed to troubled areas. REITs with exposure to CVS and Walgreens may face challenges with lease expirations, requiring substantial capex and potential revenue disruption. Looking for more investing ideas like this one? Get them exclusively at Portfolio Income Solutions. Learn More » I posit that there is significant mispricing among triple net REITs as valuation has not properly considered the changing tenant landscape. Net store openings bode well for the general occupancy and rental rates of the sector, but trouble is lurking in select pockets. Some of the triple nets most exposed to the troubled area are trading at premium valuations, while others which are evading the difficulties are discounted to peers. Over time, as the tenancy shift plays out, I think the multiples will reverse, providing significant capital gains to the cheaper triple nets with better tenancy. Changing tenant lands
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News
- Net Lease Office Properties (NYSE: NLOP) had its "buy" rating re-affirmed by analysts at BWS Financial. They now have a $46.00 price target on the stock.MarketBeat
- Sold: Blue Cross and Blue Shield headquarters in Eagan [Yahoo! Finance]Yahoo! Finance
- Net Lease Office Properties Announces Sale of Two Office Properties Totaling $61 MillionPR Newswire
- Russell Microcap: 7 new real estate companies to be added, 5 to be removed [Seeking Alpha]Seeking Alpha
- Net Lease Office Properties (NYSE: NLOP) had its "buy" rating re-affirmed by analysts at BWS Financial. They now have a $46.00 price target on the stock.MarketBeat
NLOP
Sec Filings
- 5/10/24 - Form 8-K
- 5/10/24 - Form 10-Q
- 4/5/24 - Form SC
- NLOP's page on the SEC website