One Liberty Properties (NYSE:OLP) Issues Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• One Liberty Properties beat quarterly expectations: The REIT reported EPS of $0.71, exceeding the $0.67 consensus, while revenue of $27.0 million also topped estimates of $26.78 million.
• The stock traded lower despite the earnings beat: Shares fell $0.76 to $23.84, while the company maintained an annualized dividend of $1.80 per share, representing a 7.6% yield.
• Analyst sentiment remains moderately positive: Ratings changes included a Zacks upgrade to “strong buy” and a B. Riley price-target increase to $28.50; the consensus rating is “Moderate Buy.”

One Liberty Properties (NYSE:OLP - Get Free Report) posted its quarterly earnings results on Wednesday. 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, FiscalAI reports. The firm had revenue of $27.00 million during the quarter, compared to analyst estimates of $26.78 million. One Liberty Properties had a net margin of 27.19% and a return on equity of 9.13%.

One Liberty Properties Price Performance

Shares of OLP traded down $0.76 during mid-day trading on Wednesday, hitting $23.84. 158,879 shares of the company traded hands, compared to its average volume of 84,402. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $520.19 million, a price-to-earnings ratio of 18.77 and a beta of 0.87. The business has a 50-day moving average of $24.51 and a 200 day moving average of $23.32. One Liberty Properties has a one year low of $19.62 and a one year high of $25.88.

One Liberty Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Thursday, June 25th. One Liberty Properties's dividend payout ratio is 141.73%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OLP. Weiss Ratings upgraded One Liberty Properties from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, July 1st. Zacks Research upgraded One Liberty Properties from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Finally, B. Riley Financial upped 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, One Liberty Properties currently has a consensus rating of "Moderate Buy" and an average target price of $28.50.

Insider Activity at One Liberty Properties

In other One Liberty Properties news, EVP Justin Clair sold 2,676 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $23.36, for a total transaction of $62,511.36. Following the transaction, the executive vice president owned 33,074 shares of the company's stock, valued at approximately $772,608.64. This represents a 7.49% 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, COO Lawrence Ricketts sold 6,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $24.50, for a total value of $147,000.00. Following the completion of the transaction, the chief operating officer owned 165,522 shares in the company, valued at $4,055,289. The trade was a 3.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,676 shares of company stock valued at $348,794 in the last 90 days. 26.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. US Bancorp DE raised its stake in shares of One Liberty Properties by 62.7% during the third quarter. US Bancorp DE now owns 1,271 shares of the real estate investment trust's stock worth $28,000 after buying an additional 490 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of One Liberty Properties by 6.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,051 shares of the real estate investment trust's stock valued at $240,000 after acquiring an additional 585 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of One Liberty Properties by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 22,094 shares of the real estate investment trust's stock valued at $489,000 after purchasing an additional 996 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of One Liberty Properties by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,420 shares of the real estate investment trust's stock worth $354,000 after purchasing an additional 1,454 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in One Liberty Properties by 13.2% in the second quarter. Quantinno Capital Management LP now owns 13,578 shares of the real estate investment trust's stock valued at $324,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors own 36.24% of the company's stock.

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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