One Liberty Properties(OLP) - 2025 Q3 - Quarterly Results

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].