– 70 Industrial Properties Comprise Over 80% of Total Portfolio Base Rent for 2026 – – Record Industrial Acquisition Year With $188.8 Million Completed Year to Date – GREAT NECK, N.Y., Dec. 22, 2025 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on the ownership of industrial properties, today announced the completion of the previously announced acquisition of a 397,440 square foot, six building, multi-tenant industrial property located in Sewickley, Pe ...

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Core Points - One Liberty Properties, Inc. declared a quarterly dividend of $0.45 per share, payable on January 6, 2026, to stockholders of record by December 22, 2025 [2] - The company has increased or maintained its dividend for 33 consecutive years, marking its 132nd consecutive quarterly dividend [3] Financial Information - More than 90% of the declared dividend will be included in 2026 taxable income for federal income tax purposes [2] - Approximately 50% of the dividends attributable to 2025 will be treated as capital gains [2] Company Overview - One Liberty Properties, Inc. focuses on acquiring, owning, and managing a geographically diversified portfolio, primarily consisting of industrial properties [4] - Additional financial and descriptive information can be found on the company's website [4]

Group 1 - The analyst has over 10 years of experience researching more than 1000 companies across various sectors including commodities and technology [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, covering hundreds of companies [1] - The analyst expresses a particular interest in metals and mining stocks, while also being comfortable with consumer discretionary, REITs, and utilities [1]

Property Portfolio - As of September 30, 2025, the company owns 98 properties, including 61 industrial properties, with an occupancy rate of approximately 98.2%[117] - The company's 2026 base rent is approximately $77.4 million, with industrial properties contributing $61.5 million (79.6%) and retail properties contributing $11.9 million (15.4%) to this total[124][125] - Scheduled lease expirations indicate that 27 leases (17.5% of 2026 base rent) will expire in 2027, with a total base rent of $13.6 million[126] - The company acquired a 210,600 square foot industrial property for $24.0 million, with expected quarterly rental income of $405,000 starting October 1, 2025[129] - The company acquired a 397,440 square foot industrial property in Sewickley, Pennsylvania for $53.5 million, anticipating annual base rent of approximately $3.4 million with increases of 2.0% to 3.0%[135] - A 199,919 square foot industrial property in Oakdale, Minnesota was acquired for $23.0 million, with expected annual base rent of approximately $1.5 million and a 4.0% annual increase[136] Financial Performance - Total revenues for the three months ended September 30, 2025, increased by 7.0% to $23.8 million compared to $22.2 million in 2024, and for the nine months, revenues increased by 8.7% to $72.5 million from $66.7 million[138] - Net rental income for the three months ended September 30, 2025, was $23.8 million, a 7.0% increase from $22.2 million in 2024, while for the nine months, it was $66.5 million, up 9.0% from $72.4 million[139] - Gain on sale of real estate for the three months ended September 30, 2025, was $9.1 million, a 328.9% increase from $2.1 million in 2024, and for the nine months, it was $16.7 million, up 47.3% from $11.3 million[151] - Other income for the three months ended September 30, 2025, decreased by 75.9% to $85,000 from $353,000 in 2024[154] Expenses and Impairments - Total operating expenses for the three months ended September 30, 2025, increased by 18.5% to $17.0 million from $14.3 million in 2024, and for the nine months, expenses rose by 10.8% to $48.4 million from $43.7 million[144] - The company recorded a $1.3 million impairment loss for the three and nine months ended September 30, 2025, compared to a $1.1 million impairment loss in the same period of 2024[149] - An impairment charge of $1.3 million was recorded for The Vue Apartments, which had not generated revenue since 2020, with expected net proceeds from its sale of approximately $16.4 million[134] Debt and Liquidity - The company had available liquidity of $109.4 million as of October 31, 2025, including $9.4 million in cash and cash equivalents[158] - The total principal amount of outstanding mortgages payable was $463.1 million as of September 30, 2025, secured by 61 properties[160] - The company anticipates an increase in mortgage interest expense as it refinances maturing mortgages, with current rates generally higher than the existing weighted average rate of 3.78%[155] - The credit facility allows borrowing up to $100.0 million, with a maturity date of December 31, 2026, and an interest rate of 6.03% as of September 30, 2025[166] Funds from Operations - Funds from operations (FFO) are computed in accordance with NAREIT guidelines, excluding depreciation and amortization related to real estate[170] - Adjusted funds from operations (AFFO) are calculated by adjusting FFO for various items, reflecting the company's operational performance[171] - FFO for the three months ended September 30, 2025 decreased by $136,000, or 1.5%, compared to the same period in 2024, primarily offset by a $1.6 million increase in rental income, net[177] - AFFO for the three months ended September 30, 2025 increased by $173,000, or 1.7%, due to a $180,000 increase in rental income, net, and a $151,000 decrease in general and administrative expenses[178] - FFO for the nine months ended September 30, 2025 increased by $327,000, or 1.2%, compared to the same period in 2024[180] - AFFO for the nine months ended September 30, 2025 increased by $865,000, or 2.9%, primarily due to a $354,000 decrease in general and administrative expenses[180] Risks and Strategy - The company faces risks including tenant defaults, economic conditions, and interest rate volatility, which could impact cash flow and profitability[112][115] - The company maintains a strategy to diversify its property portfolio and minimize exposure to interest rate fluctuations through fixed-rate mortgage debt[119] Acquisitions and Sales - During the three months ended September 30, 2025, the company sold properties for a total gross sales price of $18.8 million, resulting in a gain of $9.1 million[130] - The company anticipates selling a retail property in Port Clinton, Ohio for $1.3 million, expecting net proceeds of approximately $500,000 after mortgage repayment[133] - The company expects to close the acquisition of the Pittsburgh Portfolio during the three months ending December 31, 2025[135] - The annual base rent from acquisitions in 2025 was $8.5 million, reflecting a 1,044.0% increase from $739,000 in 2024[139]

Core Insights - One Liberty Properties, Inc. has transformed its portfolio towards industrial properties, with approximately 80% of its Annual Base Rent (ABR) generated from this sector as of the quarter end [2][7] - The company has completed and plans to complete approximately $189 million in acquisitions in 2025, significantly scaling its industrial platform through capital recycling from non-core asset sales [2][7] - The company reported a net income of $10.5 million for the quarter ended September 30, 2025, representing a 102.4% increase year-over-year [5][26] Operating Results - Net income attributable to One Liberty Properties, Inc. was $10,478,000 for Q3 2025, compared to $5,177,000 in Q3 2024, marking a 102.4% increase [5][26] - The diluted net income per share increased to $0.48 from $0.23, a rise of 108.7% [5][26] - Funds from Operations (FFO) decreased slightly by 1.5% to $9,057,000, while Adjusted Funds from Operations (AFFO) increased by 1.7% to $10,072,000 [5][26] Key Transactions - The company completed the sale of four non-core properties during the quarter, generating net proceeds of $16.3 million and a gain of $9.1 million [7][13] - Subsequent to the quarter end, One Liberty acquired an industrial property for $23 million and agreed to acquire a six-building industrial portfolio for $53.5 million [7][15][17] - The company also completed the sale of a non-core asset for net proceeds of approximately $17.7 million [7][16] Financial Metrics - Total assets at quarter end were $802.3 million, with total debt of $458.7 million and total stockholders' equity of $305.6 million [11][24] - The company had $18.8 million in cash and cash equivalents, with available liquidity of approximately $109.4 million as of October 31, 2025 [11][24] - Rental income for Q3 2025 was reported at $23.8 million, up from $22.2 million in Q3 2024, reflecting the impact of acquisitions and dispositions [26]

Financial Performance - Net income attributable to One Liberty Properties increased by 102.4% year-over-year to $10.5 million, or $0.48 per diluted share[5]. - Total revenues for the three months ended September 30, 2025, increased to $23,771,000, up 7.0% from $22,211,000 in the same period of 2024[27]. - Operating income for the nine months ended September 30, 2025, rose to $40,837,000, a 18.5% increase compared to $34,403,000 in 2024[27]. - Net income attributable to One Liberty Properties, Inc. for the three months ended September 30, 2025, was $10,478,000, representing a 102.4% increase from $5,177,000 in 2024[27]. - Funds from operations (FFO) for the three months ended September 30, 2025, was $9,057,000, slightly down by 1.5% from $9,193,000 in 2024[29]. - Adjusted funds from operations (AFFO) for the nine months ended September 30, 2025, increased to $31,203,000, compared to $30,338,000 in 2024, reflecting a growth of 2.9%[29]. - Net income per share attributable to common stockholders (diluted) for the three months ended September 30, 2025, was $0.48, up from $0.23 in 2024[27]. - Gain on sale of real estate for the three months ended September 30, 2025, was $9,071,000, significantly higher than $2,115,000 in the same period of 2024[27]. - Total operating expenses for the nine months ended September 30, 2025, were $48,361,000, an increase of 10.5% from $43,651,000 in 2024[27]. - Impairment loss recorded for the three months ended September 30, 2025, was $1,300,000, compared to no impairment loss in the same period of 2024[27]. Portfolio and Acquisitions - Approximately 80% of the portfolio's Annual Base Rent (ABR) is generated from industrial properties as of quarter end[6]. - The company completed $189 million in acquisitions in 2025, including a $23 million industrial property and a $53.5 million six-building industrial portfolio[3][6]. - The sale of four non-core properties during the quarter generated $16.3 million in net proceeds and a $9.1 million gain[6][12]. - The company anticipates annual base rent from the recently acquired properties to be approximately $4.9 million, with annual increases ranging from 2% to 4%[14][16]. Liquidity and Capital Structure - Total assets increased to $802.3 million, with total debt at $458.7 million and total stockholders' equity at $305.6 million as of September 30, 2025[10][25]. - The company had approximately $109.4 million in available liquidity as of October 31, 2025, including $9.4 million in cash and cash equivalents[10]. - The weighted average number of shares of common stock outstanding increased by approximately 214,000 due to stock issuances related to equity incentive and dividend reinvestment programs[9]. - The weighted average number of diluted common shares outstanding for the three months ended September 30, 2025, was 20,946,000, compared to 20,753,000 in 2024[27].

Core Insights - One Liberty Properties Inc. is a real estate investment trust (REIT) focused on managing a diverse portfolio of commercial properties, primarily in the industrial and retail sectors across the U.S. [1] Financial Performance - The company is set to report its Q3 2025 earnings on November 11, with Wall Street analysts predicting an EPS of $0.32, a decrease from $0.46 in the same period last year [2] - Quarterly revenue is expected to reach $24.18 million, an increase from $22.21 million a year earlier [2] - In Q2 2025, One Liberty Properties reported FFO of $0.49, surpassing the consensus estimate of $0.46, while revenues of $24.48 million fell short of the consensus of $25.10 million [4] Dividend Information - The stock has a dividend yield of 8.89%, with the company paying $1.79 per share in dividends over the last 12 months [3] - To generate an income of $100 per month from dividends, an investment of approximately $13,498 is required, based on the current stock price of $20.16 [6][7] Strategic Focus - The CEO highlighted the positive impact of transitioning the portfolio towards primarily industrial properties, indicating a commitment to enhancing cash flow stability and uncovering growth opportunities [5]

Core Viewpoint - One Liberty Properties, Inc. has declared a quarterly dividend of $0.45 per share, marking its 131st consecutive quarterly dividend and demonstrating a commitment to maintaining or increasing dividends for over 31 years [1]. Company Overview - One Liberty Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT) incorporated in Maryland in 1982 [2]. - The company focuses on acquiring, owning, and managing a geographically diversified portfolio, primarily consisting of industrial properties [2]. - Additional financial and operational information can be found on the company's website, and stakeholders are encouraged to review its Annual Report on Form 10-K and other SEC filings for more details [2].

Group 1 - The analyst has over 10 years of experience researching more than 1000 companies across various sectors including commodities and technology [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, where hundreds of companies have been researched [1] - The analyst expresses a particular interest in metals and mining stocks, while also being comfortable with other industries such as consumer discretionary, REITs, and utilities [1]