One Liberty Properties (NYSE:OLP) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded One Liberty Properties from “strong buy” to “hold.” Weiss Ratings maintained a “sell” rating, while the three-analyst consensus is “hold” with a $28.50 price target.
• One Liberty Properties shares opened at $22.19, below their 50-day and 200-day moving averages of $23.30 and $23.58, respectively. The stock has traded between $19.62 and $25.88 over the past year.
• The REIT exceeded quarterly expectations, reporting $0.71 EPS versus the $0.67 consensus and $27.0 million in revenue versus $26.78 million expected. An executive vice president sold 4,500 shares, while institutional investors own 36.24% of the company.

One Liberty Properties (NYSE:OLP - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday, Zacks reports.

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of One Liberty Properties in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $28.50.

One Liberty Properties Stock Performance

Shares of One Liberty Properties stock opened at $22.19 on Monday. The stock's fifty day moving average is $23.30 and its two-hundred day moving average is $23.58. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $485.96 million, a PE ratio of 13.96 and a beta of 0.88. One Liberty Properties has a 52 week low of $19.62 and a 52 week high of $25.88.

One Liberty Properties (NYSE:OLP - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. One Liberty Properties had a net margin of 33.51% and a return on equity of 11.52%. The company had revenue of $27.00 million for the quarter, compared to analysts' expectations of $26.78 million. As a group, analysts expect that One Liberty Properties will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Justin Clair sold 4,500 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $24.06, for a total transaction of $108,270.00. Following the completion of the transaction, the executive vice president directly owned 34,153 shares of the company's stock, valued at $821,721.18. This represents a 11.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 26.20% of the company's stock.

Hedge Funds Weigh In On One Liberty Properties

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in One Liberty Properties during the second quarter worth about $44,883,000. Dimensional Fund Advisors LP increased its holdings in shares of One Liberty Properties by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 233,957 shares of the real estate investment trust's stock valued at $5,021,000 after acquiring an additional 1,246 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in One Liberty Properties in the second quarter valued at approximately $2,858,000. Man Group plc acquired a new stake in One Liberty Properties during the second quarter worth approximately $2,444,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of One Liberty Properties by 31.3% in the 1st quarter. Quantinno Capital Management LP now owns 96,336 shares of the real estate investment trust's stock valued at $2,067,000 after buying an additional 22,961 shares in the last quarter. Institutional investors and hedge funds own 36.24% of the company's stock.

About One Liberty Properties

One Liberty Properties, Inc NYSE: OLP is a self-administered and self-managed real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of commercial properties. The company primarily invests in properties subject to long-term, net leases, under which tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance.

Its portfolio has historically included industrial, retail, office, restaurant and other commercial properties leased to businesses across a range of industries.

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