One Liberty Properties (NYSE:OLP) Raised to Strong-Buy at Zacks Research

Key Points

• One Liberty Properties was upgraded by Zacks Research from hold to strong-buy, adding to a mixed but generally positive analyst backdrop that includes a consensus rating of Moderate Buy and a $28.50 price target.
• The stock was up 4.1% and trading near its 52-week high at $25.45, while the company reported strong quarterly earnings of $0.48 per share, beating estimates of $0.26.
• There was recent insider selling, including transactions by the EVP and COO, while institutional investors also increased or initiated positions; institutions now own 36.24% of the stock.

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

A number of other analysts have also commented on the company. Wall Street Zen raised One Liberty Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Weiss Ratings raised shares of One Liberty Properties from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, July 1st. Finally, B. Riley Financial upped their target price on shares of One Liberty Properties from $27.50 to $28.50 and gave the company a "buy" rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.50.

One Liberty Properties Trading Up 4.1%

Shares of One Liberty Properties stock opened at $25.45 on Wednesday. One Liberty Properties has a 1 year low of $19.62 and a 1 year high of $25.60. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day moving average price of $24.07 and a 200 day moving average price of $22.91. The company has a market capitalization of $555.43 million, a P/E ratio of 20.04 and a beta of 0.88.

One Liberty Properties (NYSE:OLP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.22. The firm had revenue of $28.29 million for the quarter, compared to analysts' expectations of $26.77 million. One Liberty Properties had a return on equity of 9.13% and a net margin of 27.19%. Sell-side analysts anticipate that One Liberty Properties will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling at One Liberty Properties

In other news, EVP Justin Clair sold 2,676 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $23.36, for a total transaction of $62,511.36. Following the completion of the sale, the executive vice president directly owned 33,074 shares of the company's stock, valued at $772,608.64. The trade was a 7.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Lawrence Ricketts sold 6,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $24.50, for a total value of $147,000.00. Following the sale, the chief operating officer owned 165,522 shares of the company's stock, valued at approximately $4,055,289. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,676 shares of company stock valued at $348,794 over the last quarter. Insiders own 25.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in 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 valued at $28,000 after acquiring an additional 490 shares during the period. New York State Teachers Retirement System acquired a new position in shares of One Liberty Properties in the 1st quarter valued at about $36,000. GAMMA Investing LLC lifted its stake in shares of One Liberty Properties by 241.7% in the 4th quarter. GAMMA Investing LLC now owns 1,951 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 1,380 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of One Liberty Properties during the 4th quarter worth about $51,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of One Liberty Properties by 607.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,668 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 2,291 shares during the period. Institutional investors and hedge funds 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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