Group 1 - One Liberty Properties reported quarterly funds from operations (FFO) of $0.46 per share, missing the Zacks Consensus Estimate of $0.48 per share, and down from $0.49 per share a year ago, representing an FFO surprise of -4.17% [1] - The company posted revenues of $22.21 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.47%, but down from year-ago revenues of $22.55 million [2] - Over the last four quarters, One Liberty Properties has surpassed consensus revenue estimates three times [2] Group 2 - The stock has gained approximately 22.4% since the beginning of the year, outperforming the S&P 500's gain of 19.8% [3] - The future performance of One Liberty Properties' stock will depend on management's commentary on the earnings call and the company's FFO outlook [4][6] - The current consensus FFO estimate for the coming quarter is $0.50 on revenues of $22.97 million, and for the current fiscal year, it is $1.94 on revenues of $89.36 million [7] Group 3 - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, which can impact One Liberty Properties' stock performance [5]

Portfolio Overview - Total square footage of the portfolio is 10.8 million square feet with an occupancy rate of 98.2%[7][11] - The company owns 106 properties across 31 states, with industrial properties making up 56 of these, contributing $48,096,061 or 67.7% to the 2024 contractual rental income[15][19] - The average lease term remaining across the portfolio is 5.5 years, providing stability in rental income[12] Financial Performance - The 2024 contractual rental income totals $71,079,476, with the top five tenants contributing 21.4% of this income[16][20] - The company's gross assets amount to $944.5 million, with total debt representing 44.4% of gross assets[24][25] - The company reported a stable occupancy rate of 99.1% as of September 30, 2024, maintaining high occupancy levels over the years[34] - The current annualized dividend is $1.80, resulting in a dividend yield of 6.5%[22] - As of June 30, 2024, the adjusted funds from operations (AFFO) per share is $0.95, with an AFFO payout ratio of 95%[23] - The market capitalization is $588.8 million, with 21.4 million shares outstanding and an insider ownership of 25.5%[21][22] Debt and Liquidity - The company maintains a debt service coverage ratio of 2.3 to 1.0, indicating strong financial health[29][30] - The weighted average interest rate on fixed-rate debt is 4.41%, with approximately $11.3 million scheduled for mortgage amortization for the twelve months ending June 30, 2025[32] - As of September 30, 2024, the company has $100 million available on its Line of Credit and liquidity to acquire properties exceeding $250 million[32] Acquisitions and Dispositions - The company completed acquisitions totaling $79.5 million in 2023, with a notable acquisition of a multi-tenant property for $33 million in August 2024[34] - The company has maintained a consistent acquisition strategy, with a total of $120 million in acquisitions over the past few years[34] - The company has a history of opportunistic dispositions, with a net gain of $11.3 million from sales in 2024[35] - The company reported a net gain of $3.997 million from the sale of a retail property in December 2023, contributing to total net proceeds of $46.6 million for the year[36] Lease and Rental Income - For the twelve months ending June 30, 2025, expiring leases represent 4.6% of the 2024 contractual rental income, totaling $3,273,962[33] - The company has a total of 162 expiring leases by 2035, representing 100% of the contractual rental income of $71,079,476[33] - The company’s top tenant, FedEx, represents 5.3% of the 2024 contractual rental income, with properties located in multiple states[54] - The current base rent for the St. Louis property increased by 32% after a lease extension with CHEP USA, which accounts for 50% of the gross leasable area[40] Financial Metrics and Adjustments - NAREIT funds from operations (FFO) per share of common stock for the latest period is $1.90, compared to $1.82 in the previous period, reflecting a growth of 4.4%[125][188] - Adjusted funds from operations (AFFO) per share of common stock is reported at $1.95, showing a slight decrease from $1.98 in the prior period[185][188] - The company deducted $0.25 from income due to other income and income on settlement of litigation, which impacted the overall FFO calculation[144][188] - The total deductions for straight-line rent accruals and amortization of lease intangibles amounted to $0.16, affecting the FFO results[132][188] - The company emphasizes that FFO and AFFO are useful measures for evaluating operating performance, excluding GAAP historical cost depreciation and amortization[190] - Management believes that FFO and AFFO provide insights into trends in occupancy rates, rental rates, and operating costs, which may not be apparent from net income alone[190] - The company does not consider FFO and AFFO as alternatives to net income or cash flows from operations as defined by GAAP[191] - The FFO calculation excludes depreciation and amortization related to real estate, which is crucial for understanding the company's operational performance[189][190] - The company recognizes limitations in using FFO and AFFO and examines GAAP measures such as net income and cash flows for a comprehensive performance evaluation[191] - The adjusted FFO reflects various adjustments, including amortization of restricted stock and debt prepayment costs, which are critical for accurate financial assessment[188] Property Specifics - The company acquired the River Road Logistics Building I in Council Bluffs, IA for a purchase price of $33 million, with a mortgage amount of $18.425 million[39] - The building has a total area of 302,347 square feet and is net leased to three tenants, with a base rent of $7.12 per square foot, which is below market[38] - In 2024, the company refinanced a property in St. Louis, MO, resulting in $6.3 million in net proceeds based on appreciated asset value and increased rent[40] - The company reported a Year 1 net cash flow of $1.032 million from the River Road Logistics Building I, yielding a 5-year cash on cash return of 7.97%[40] - The market rent for the Bensalem, PA property has increased from $5.50 per square foot at acquisition to over $10.00 per square foot today[48] Company Strategy - The company has a disciplined track record through economic cycles, focusing on industrial properties[4][5] - The company has a disciplined track record focused on industrial properties, which are expected to perform well through economic cycles[50]

Core Viewpoint - One Liberty Properties, Inc. continues to focus on expanding its industrial property portfolio, which now accounts for approximately 70% of its base rent, aiming for greater cash flow stability in the long term [2]. Financial Performance - Rental income for Q3 2024 was $22.2 million, a slight decrease from $22.5 million in Q3 2023, primarily due to the net impact of acquisitions and dispositions [3]. - Total operating expenses remained flat year-over-year at $14.3 million [3]. - Net income attributable to One Liberty for Q3 2024 was $5.2 million, or $0.23 per diluted share, compared to $2.7 million, or $0.12 per diluted share, in the same quarter of 2023 [4]. - Funds from Operations (FFO) for Q3 2024 was $9.2 million, or $0.43 per diluted share, down from $9.7 million, or $0.45 per diluted share, in Q3 2023 [5]. - Adjusted Funds from Operations (AFFO) was $9.9 million, or $0.46 per diluted share, compared to $10.5 million, or $0.49 per diluted share, in 2023 [6]. Transactions and Acquisitions - The company completed the purchase of a 302,347 square foot industrial property in Council Bluffs, Iowa for $33.0 million [10]. - During the quarter, three properties were sold for net proceeds of $6.9 million, resulting in an aggregate gain of $2.1 million [11]. - Subsequent to Q3 2024, agreements were signed to sell additional properties, including an LA Fitness property for $21.4 million and a retail property in Hilliard, Ohio for $1.6 million, with projected gains of approximately $6.4 million and $300,000, respectively [12][13]. Balance Sheet and Liquidity - As of September 30, 2024, the company had $25.7 million in cash and cash equivalents, total assets of $768.8 million, total debt of $426.1 million, and total stockholders' equity of $304.2 million [9]. - Available liquidity as of November 1, 2024, was approximately $129.8 million, including $29.8 million in cash and $100 million under its credit facility [9]. Strategic Focus - The company aims to evolve its portfolio towards industrial assets, believing that this strategy will strengthen its financial position in the coming years despite current pressures on results compared to the prior year [2].

GREAT NECK, N.Y., Sept. 11, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP) today announced that its Board of Directors declared a quarterly dividend on the Company's common stock of $0.45 per share. The dividend is payable on October 2, 2024 to stockholders of record at the close of business on September 24, 2024, and represents One Liberty's 127th consecutive quarterly dividend. One Liberty has increased or maintained its dividend for over 30 consecutive years. About One Liberty Properti ...

One Liberty Properties (OLP) came out with quarterly funds from operations (FFO) of $0.48 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to FFO of $0.50 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 2.13%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.48 per share when it actually produced FFO of $0.48, delivering no surprise. Over the last four quar ...

– Enters into Contracts to Acquire Two Industrial Properties for $61.6 million – – Closes on Purchase of Two Industrial Properties for Approximately $11.7 Million – – Completes Sales of Six Properties For $7.4 Million Gain – GREAT NECK, N.Y., Aug. 06, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended June 30, 2024. Patrick J. Callan, Jr., President and Chief Executive Off ...

– Upon Closing Company Will Have Added Four Industrial Properties for Over $73 Million in 2024 – GREAT NECK, N.Y., Aug. 01, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced it has entered into a contract to acquire, subject to due diligence review, its fourth industrial property in 2024. The property is a Class A concrete tilt-wall constructed 236,324 square foot industrial building located on approximately 23 ...

GREAT NECK, N.Y., June 10, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP) today announced that its Board of Directors declared a quarterly dividend on the Company's common stock of $0.45 per share. The dividend is payable on July 9, 2024 to stockholders of record at the close of business on June 25, 2024, and represents One Liberty's 126th consecutive quarterly dividend. One Liberty has increased or maintained its dividend for over 30 consecutive years. One Liberty is a self-administered ...

GREAT NECK, N.Y., June 10, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP) today announced that its Board of Directors declared a quarterly dividend on the Company's common stock of $0.45 per share. The dividend is payable on July 9, 2024 to stockholders of record at the close of business on June 25, 2024, and represents One Liberty's 126th consecutive quarterly dividend. One Liberty has increased or maintained its dividend for over 30 consecutive years. About One Liberty Properties, Inc: ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-09279 ONE LIBERTY PROPERTIES, INC. (Exact name of registrant as specified in its charter) MARYLAND 13-3147497 incorporation or organization) identification n ...