One Liberty Properties, Inc. (NYSE:OLP) Plans $0.45 Quarterly Dividend

Key Points

• One Liberty Properties declared a quarterly dividend of $0.45 per share, payable October 6 to shareholders of record September 28. The annualized dividend is $1.80, representing a yield of approximately 7.8%.
• The dividend may be difficult to sustain from earnings alone: the payout ratio is 339.6%, while projected next-year earnings of $1.79 per share imply a payout ratio of about 100.6%.
• The REIT reported quarterly EPS of $0.71, exceeding estimates of $0.67, and analysts have an overall “Moderate Buy” rating with a consensus price target of $28.50.

One Liberty Properties, Inc. (NYSE:OLP - Get Free Report) announced a quarterly dividend on Wednesday, September 16th. Shareholders of record on Monday, September 28th will be given a dividend of 0.45 per share by the real estate investment trust on Tuesday, October 6th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Monday, September 28th.

One Liberty Properties has a payout ratio of 339.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect One Liberty Properties to earn $1.79 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 100.6%.

One Liberty Properties Trading Down 0.4%

NYSE:OLP opened at $22.96 on Thursday. One Liberty Properties has a 52-week low of $19.62 and a 52-week high of $25.88. 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 stock has a fifty day simple moving average of $24.26 and a 200-day simple moving average of $23.68. The company has a market capitalization of $502.93 million, a PE ratio of 14.44 and a beta of 0.86.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OLP shares. B. Riley Financial increased their price target on shares of One Liberty Properties from $27.50 to $28.50 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Zacks Research upgraded One Liberty Properties from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised One Liberty Properties from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, One Liberty Properties has an average rating of "Moderate Buy" and a consensus price target of $28.50.

About One Liberty Properties

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

Its portfolio has historically included industrial, retail, office, health and fitness, and other commercial properties.

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