Welcome to our dedicated page for One Liberty news (Ticker: OLP), a resource for investors and traders seeking the latest updates and insights on One Liberty stock.
News and updates for One Liberty Properties, Inc. (NYSE: OLP) focus on its activities as a self-administered and self-managed real estate investment trust that acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial properties. Company press releases highlight its ongoing transformation toward an industrial-focused platform and the role of long-term net leases in its business model.
Readers of this news feed can follow quarterly and annual operating results, where One Liberty reports rental income trends, operating expenses, net income, and supplemental metrics such as Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO). These updates often explain how acquisitions, dispositions and lease activity affect rental income and other key measures.
The news stream also covers acquisition and disposition activity, including contracts to acquire single-tenant and multi-tenant industrial properties and the sale of non-core or non-industrial assets such as retail, restaurant, health and fitness and other properties. The company frequently describes how proceeds from property sales and available liquidity are used to fund additional industrial acquisitions and advance its portfolio transformation.
In addition, One Liberty regularly announces its quarterly dividends, noting a long history of consecutive dividend payments and many years of increasing or maintaining the dividend. Dividend press releases may also provide estimates of the federal income tax treatment of distributions for stockholders.
Investors and observers can use this page to review the company’s press releases that are often furnished as exhibits to Form 8-K filings, including discussions of annual base rent from industrial properties, lease terms, financing arrangements for acquisitions and other material events. Bookmarking this news page allows for convenient access to One Liberty’s ongoing disclosures about its industrial-focused REIT operations.
One Liberty Properties (NYSE: OLP) has acquired two Class A industrial properties in Mobile, Alabama MSA for $49 million. The properties, totaling 371,586 square feet on 31 acres, are leased to four tenants: Simpson Manufacturing, Veyer , Chadwell Supply, and DC Safety Sales Co. The acquisition generates $3.1 million in annual base rent with 2.3-3.5% annual increases and a weighted average lease term of nearly seven years.
The company financed the purchase with cash and a $29 million mortgage at 6.12% interest. The modern warehouses, built in 2022-2023, feature 32-36' clear height and strategic location near Interstate-10 in Theodore, AL.
Additionally, OLP completed two property sales: an LA Fitness property in Secaucus, NJ for $21.4 million with a $6.4 million gain, and an Advance Auto retail property in Hilliard, OH for $1.6 million with a $224,000 gain. Industrial properties now represent over 72% of OLP's base rent.
One Liberty Properties (NYSE: OLP) has declared its 128th consecutive quarterly dividend of $0.45 per share, payable on January 6, 2025, to stockholders of record as of December 23, 2024. The company has maintained a remarkable track record of either increasing or maintaining its dividend for over 30 consecutive years, demonstrating consistent shareholder returns and financial stability.
One Liberty Properties (NYSE: OLP) reported third quarter 2024 results with rental income of $22.2 million, down from $22.5 million in Q3 2023. Net income increased to $5.2 million ($0.23 per share) from $2.7 million ($0.12 per share) year-over-year, primarily due to a $2.1 million gain on property sales. The company completed a $33 million industrial property purchase in Council Bluffs, Iowa, and sold three properties for $6.9 million. FFO decreased to $9.2 million ($0.43 per share) from $9.7 million ($0.45 per share) in Q3 2023. The company has approximately 70% of base rent derived from industrial properties.
One Liberty Properties (NYSE: OLP) has declared its 127th consecutive quarterly dividend of $0.45 per share on its common stock. The dividend is payable on October 2, 2024, to stockholders of record as of September 24, 2024. This announcement marks a significant milestone for the company, as it has increased or maintained its dividend for over 30 consecutive years. One Liberty's consistent dividend policy demonstrates its commitment to providing steady returns to shareholders and reflects the company's financial stability in the real estate investment sector.
One Liberty Properties (NYSE: OLP) reported its Q2 2024 results, highlighting strategic moves in its property portfolio. The company entered contracts to acquire two industrial properties for $61.6 million and closed on two others for $11.7 million. It also completed sales of six properties for a $7.4 million gain. Rental income was $21.8 million, down from $22.4 million in Q2 2023. Net income increased to $9.6 million ($0.45 per diluted share) from $6.5 million ($0.30 per diluted share) in Q2 2023. FFO decreased slightly to $9.2 million ($0.43 per diluted share) from $9.6 million ($0.45 per diluted share) in the previous year. The company's focus on industrial properties is expected to enhance cash flow stability, with over 69% of base rent projected to come from this sector after pending acquisitions.
One Liberty Properties (NYSE: OLP) has announced a contract to acquire its fourth industrial property in 2024, a 236,324 square foot Class A industrial building in Council Bluffs, Iowa, for $28.3 million. This acquisition will bring OLP's total industrial property purchases in 2024 to over $73 million. The property, located in the Omaha, Nebraska MSA, has two tenants providing an annual base rent of approximately $1.9 million with a weighted average remaining lease term of 6.1 years. OLP plans to finance the purchase with available cash and a $17.0 million mortgage at 5.89% interest. The transaction is expected to close in September/October 2024.
One Liberty Properties (NYSE: OLP) announced on June 10, 2024, that its Board of Directors has declared a quarterly dividend of $0.45 per share. This dividend will be payable on July 9, 2024, to stockholders of record as of June 25, 2024. This marks the company's 126th consecutive quarterly dividend. Notably, One Liberty has either increased or maintained its dividend for over 30 consecutive years, showcasing its consistent performance and commitment to returning value to shareholders.
One Liberty Properties, Inc. reported its first quarter 2024 results, highlighting the acquisition of an industrial property, the sale of two assets, and contracts for three additional sales. The Company focused on transitioning its portfolio towards industrial ownership in the face of economic uncertainty. Despite a decrease in rental income, the net income was $5.2 million with a gain on sale of real estate. Funds from Operations (FFO) were $9.6 million, and Adjusted Funds from Operations (AFFO) were $10.2 million for the quarter. The balance sheet showed $27.4 million in cash, total assets of $755.7 million, and total debt of $416.5 million. The Company had liquidity of $115.1 million. Transactions included property sales generating net proceeds of $13-14 million and the acquisition of a 63,421 square foot industrial property in Albuquerque for $6.5 million.
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