One Liberty Properties, Inc. (NYSE:OLP) Sees Large Increase in Short Interest

Key Points

• Short interest rose 20.8% in March to 242,672 shares, equal to 1.5% of shares outstanding and a short-interest ratio of 2.6 days based on average daily volume.
• COO Lawrence Ricketts sold 2,999 shares on April 2 at $21.86, and insiders have sold 14,491 shares (worth $330,103) over the past 90 days while still owning 25.8% of the company.
• One Liberty pays a $0.45 quarterly dividend (annualized $1.80) for a 7.8% yield153.85%; analysts' consensus is a "Hold" with a $27.50 target.

One Liberty Properties, Inc. (NYSE:OLP - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 242,672 shares, a growth of 20.8% from the March 15th total of 200,882 shares. Based on an average trading volume of 93,398 shares, the short-interest ratio is currently 2.6 days. Currently, 1.5% of the company's shares are sold short.

Insider Buying and Selling at One Liberty Properties

In other news, COO Lawrence Ricketts sold 2,999 shares of One Liberty Properties stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.86, for a total transaction of $65,558.14. Following the completion of the sale, the chief operating officer owned 177,522 shares of the company's stock, valued at approximately $3,880,630.92. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 14,491 shares of company stock worth $330,103 over the last ninety days. Insiders own 25.80% of the company's stock.

Hedge Funds Weigh In On One Liberty Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its holdings in One Liberty Properties by 62.7% in the third quarter. US Bancorp DE now owns 1,271 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 490 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in One Liberty Properties by 6.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,051 shares of the real estate investment trust's stock worth $240,000 after purchasing an additional 585 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in One Liberty Properties by 12.2% in the third quarter. Resona Asset Management Co. Ltd. now owns 6,986 shares of the real estate investment trust's stock worth $154,000 after purchasing an additional 758 shares during the last quarter. Legal & General Group Plc grew its holdings in One Liberty Properties by 4.7% in the third quarter. Legal & General Group Plc now owns 22,094 shares of the real estate investment trust's stock worth $489,000 after purchasing an additional 996 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in One Liberty Properties by 12.3% in the third quarter. State of Alaska Department of Revenue now owns 9,955 shares of the real estate investment trust's stock worth $219,000 after purchasing an additional 1,089 shares during the last quarter. 36.24% of the stock is owned by hedge funds and other institutional investors.

One Liberty Properties Price Performance

NYSE OLP opened at $23.00 on Friday. The firm's fifty day simple moving average is $22.76 and its two-hundred day simple moving average is $21.50. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.73. One Liberty Properties has a 12-month low of $19.62 and a 12-month high of $25.90. The firm has a market capitalization of $501.63 million, a P/E ratio of 19.66 and a beta of 0.96.

One Liberty Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 27th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, March 27th. One Liberty Properties's payout ratio is currently 153.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on OLP shares. Weiss Ratings reissued a "sell (e)" rating on shares of One Liberty Properties in a report on Monday, December 29th. Wall Street Zen raised shares of One Liberty Properties from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Finally, B. Riley Financial reissued a "buy" rating and set a $27.50 price objective (up from $26.50) on shares of One Liberty Properties in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, One Liberty Properties currently has a consensus rating of "Hold" and a consensus target price of $27.50.

About One Liberty Properties

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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