BlackRock Inc. Invests $44.88 Million in One Liberty Properties, Inc. $OLP

Key Points

• BlackRock acquired 1.84 million shares of One Liberty Properties in the second quarter, worth approximately $44.9 million, giving it an 8.42% stake. Institutional investors collectively own 36.24% of the REIT.
• One Liberty Properties reported quarterly EPS of $0.71, exceeding the $0.67 consensus estimate, while revenue of $27 million also topped expectations. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $28.50.
• The company declared a quarterly dividend of $0.45 per share, equating to an annualized $1.80 payout and a 7.5% yield. However, insiders sold 16,500 shares worth about $394,553 over the past 90 days.

BlackRock Inc. purchased a new position in shares of One Liberty Properties, Inc. (NYSE:OLP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,837,942 shares of the real estate investment trust's stock, valued at approximately $44,883,000. BlackRock Inc. owned 8.42% of One Liberty Properties at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OLP. GSA Capital Partners LLP acquired a new position in shares of One Liberty Properties during the 2nd quarter worth $1,207,000. Hsbc Holdings PLC acquired a new stake in shares of One Liberty Properties during the 4th quarter worth $411,000. Quantinno Capital Management LP lifted its stake 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 purchasing an additional 22,961 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in One Liberty Properties in the 2nd quarter valued at $2,858,000. Finally, Bank of America Corp DE boosted its holdings in One Liberty Properties by 7.8% in the 1st quarter. Bank of America Corp DE now owns 35,551 shares of the real estate investment trust's stock worth $763,000 after acquiring an additional 2,586 shares during the period. Institutional investors and hedge funds own 36.24% of the company's stock.

Insider Buying and Selling

In other One Liberty Properties news, COO Lawrence Ricketts sold 6,000 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $24.50, for a total value of $147,000.00. Following the transaction, the chief operating officer directly owned 165,522 shares of the company's stock, valued at $4,055,289. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Clair sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $24.06, for a total transaction of $108,270.00. Following the completion of the sale, the executive vice president owned 34,153 shares in the company, valued at approximately $821,721.18. The trade was a 11.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,500 shares of company stock valued at $394,553. Corporate insiders own 26.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. B. Riley Financial raised their target price on shares of One Liberty Properties from $27.50 to $28.50 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Zacks Research upgraded One Liberty Properties from a "hold" rating to a "strong-buy" rating in a 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.50.

One Liberty Properties Price Performance

One Liberty Properties stock opened at $23.91 on Tuesday. The company has a market capitalization of $523.63 million, a PE ratio of 15.04 and a beta of 0.87. One Liberty Properties, Inc. has a one year low of $19.62 and a one year high of $25.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.62 and a quick ratio of 1.62. The business has a 50 day simple moving average of $24.56 and a 200 day simple moving average of $23.63.

One Liberty Properties (NYSE:OLP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.71 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 during the quarter, compared to analysts' expectations of $26.78 million. On average, sell-side analysts forecast that One Liberty Properties, Inc. will post 1.74 EPS for the current fiscal year.

One Liberty Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.80 annualized dividend and a yield of 7.5%. One Liberty Properties's dividend payout ratio (DPR) is currently 113.21%.

One Liberty Properties Company Profile

One Liberty Properties, Inc is a self-administered real estate investment trust (REIT) specializing in the acquisition, ownership and management of net leased commercial properties. The company focuses on single-tenant retail, office and industrial assets that are subject to long-term, triple-net leases, shifting operating responsibilities—such as maintenance, insurance and taxes—to the tenant. One Liberty's strategy emphasizes creditworthy tenants, lease durations that provide predictable cash flow and geographically diversified holdings.

Since its founding in 1988 and incorporation as a REIT in 1993, One Liberty has assembled a portfolio of more than 130 properties spanning retail convenience centers, quick-service restaurants, automotive service stations, office buildings and light industrial facilities.

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