Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

NET Lease Office Properties / Equity Bottom-Up

<ul>
<li>NLOP reported two small property sales since the $71.5 million raised from the sale of the Scottsdale, Arizona building in August 2024. </li>
<li>The asset sales have contributed to NLOP reducing its debt burden from mortgage and mezzanine loans that carry interest rates of 9.8 percent and 14.5 percent, respectively.   </li>
<li>Cash flow from operations resulted in further reduction of debt in the third quarter.  </li>
</ul>


NLOP reported two small property sales since the $71.5 million raised from the sale of the Scottsdale, Arizona building in August 2024. 
The asset sales have contributed to NLOP reducing its debt burden from mortgage and mezzanine loans that carry interest rates of 9.8 percent and 14.5 percent, respectively.   
Cash flow from operations resulted in further reduction of debt in the third quarter.  


NLOP: Debt Reduction Supports Price Target

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>Potential for NLOP to liquidate office properties for $43 per share over next 2 years</li><li>Estimated $70-110 million in cumulative cash flow from property liquidation</li><li>Long-leased or locationally advantaged assets hold significant value, with potential for additional value through asset sales</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Potential for NLOP to liquidate office properties for $43 per share over next 2 yearsEstimated $70-110 million in cumulative cash flow from property liquidationLong-leased or locationally advantaged assets hold significant value, with potential for additional value through asset salesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Net Lease Office Properties (NLOP) - Monday, Jul 29, 2024

<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

<ul>
<li>NLOP announced the sale of two more properties bringing the aggregate count of properties sold since fourth quarter 2023 to twelve.   </li>
<li>NLOP has been highly active in selling properties. We believe the motivation has more to do with the interest expense of its mortgage and mezzanine loans.   </li>
<li>The latest two properties sold were materially higher than the company-wide price per square foot NLOP is carrying on its balance sheet.</li>
</ul>


NLOP announced the sale of two more properties bringing the aggregate count of properties sold since fourth quarter 2023 to twelve.   
NLOP has been highly active in selling properties. We believe the motivation has more to do with the interest expense of its mortgage and mezzanine loans.   
The latest two properties sold were materially higher than the company-wide price per square foot NLOP is carrying on its balance sheet.


<ul>
<li>NLOP has continued to reduce the number of properties it owns through further dispositions during the first quarter and so far through the second quarter. </li>
<li>The pace of selling is likely to continue until NLOP has reduced its mezzanine and senior secured mortgage debt to zero. </li>
<li>AFFO was $20.0 million, in the first quarter, which was more than we were expecting.</li>
</ul>


NLOP has continued to reduce the number of properties it owns through further dispositions during the first quarter and so far through the second quarter. 
The pace of selling is likely to continue until NLOP has reduced its mezzanine and senior secured mortgage debt to zero. 
AFFO was $20.0 million, in the first quarter, which was more than we were expecting.


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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

NET Lease Office Properties (NLOP US)

NLOP: Debt Reduction Supports Price Target

NLOP used cash flow from operations along with asset sales in Q3 to reduce its debt balance. The consistent quarterly attempts to get debt to zero...

BWS Financial Inc

Net Lease Office Properties (NLOP) - Monday, Jul 29, 2024

Potential for NLOP to liquidate office properties for $43 per share over next 2 years. Estimated $70-110 million in cumulative cash flow from...

Value Investors Club

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

NLOP: Debt Declining Affirms Valuation

The valuation received from the asset sale was higher than the company-wide book value suggesting there is material upside value to NLOP's stock...

BWS Financial Inc

NLOP: Sale Process Continues

There have been more asset dispositions since the beginning of the year to help reduce the debt balance. We expect asset sales to continue to...

BWS Financial Inc

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)