One Liberty Properties, Inc.
- Open
- 24.55
- Day high
- 24.82
- Day low
- 24.40
- Prev close
- 24.42
- Volume
- 17K
- Mkt cap
- $517M
- P/E (TTM)
- 21.7
- EPS (TTM)
- $1.14
- P/B
- 1.7
- P/S
- 5.4
- Yield
- 7.27%
- Per share
- $1.80
- ▼Insiders net selling -$128K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
One Liberty Properties, Inc. (OLP) is a Real Estate company listed on NYSE. The stock is up 2% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
One Liberty Properties, Inc. (OLP) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OLP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.26 | $0.48 | +84.6% | $28M | +5.7% |
| Mar 5, 2026 | $0.18 | $0.48 | +166.7% | $24M | -2.0% |
| Nov 6, 2025 | $0.48 | $0.46 | -4.2% | $25M | +2.4% |
| Mar 5, 2025 | $0.14 | $0.50 | +257.1% | $24M | +3.4% |
| Mar 5, 2024 | $0.50 | $0.50 | +0.0% | $23M | +1.3% |
| Aug 3, 2023 | $0.52 | $0.50 | -3.8% | $22M | -2.6% |
| May 4, 2023 | $0.52 | $0.50 | -3.8% | $23M | -0.3% |
| Mar 13, 2023 | $0.35 | $0.42 | +20.0% | $28M | +30.7% |
| Nov 3, 2022 | $0.16 | $0.34 | +112.5% | $21M | -0.6% |
| Aug 3, 2022 | $0.50 | $0.49 | -2.0% | $21M | +1.3% |
| May 5, 2022 | $0.15 | $0.44 | +193.3% | $22M | +3.4% |
| Mar 10, 2022 | $0.49 | $0.51 | +4.1% | $21M | +4.1% |
OLP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 12, 2026 | Clair Justinofficer: Executive Vice President | Sell | 2,676 | $23.36 |
| Apr 6, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 2,999 | $21.86 |
| Mar 25, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 5,000 | $22.64 |
| Mar 25, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 2,000 | $23.58 |
| Mar 25, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 500 | $22.33 |
| Mar 12, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 1,184 | — |
| Mar 12, 2026 | Clair Justinofficer: Executive Vice President | Sell | 3,389 | $23.04 |
| Mar 12, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 1,075 | — |
| Mar 12, 2026 | Clair Justinofficer: Executive Vice President | Sell | 2,611 | $23.34 |
| Mar 12, 2026 | RICKETTS LAWRENCEofficer: Exec.Vice President and COO | Sell | 1,000 | — |
| Jan 16, 2026 | CALLAN PATRICK JRdirector, officer: President and CEO | Grant | 25,659 | — |
| Jan 16, 2026 | Gellert Edwarddirector | Grant | 3,500 | — |
| Jan 16, 2026 | KALISH DAVIDofficer: Senior VP - Finance | Grant | 7,400 | — |
| Jan 16, 2026 | Till Karen A.director | Grant | 3,500 | — |
| Jan 16, 2026 | GOULD MATTHEW Jdirector, officer: Chairman of Board | Grant | 11,600 | — |
Source: OLP SEC Form 4 filings, latest May 12, 2026. For informational purposes only — not investment advice.
See the full OLP insider & 13F page →One Liberty Properties, Inc. company profile
Overview
One Liberty Properties, Inc. (NYSE:OLP) is a self-administered and self-managed real estate investment trust (REIT) that was incorporated in Maryland in 1982 and went public in April 1983. The company has been operating for over four decades as a diversified real estate investment platform, focusing on acquiring, owning, and managing commercial properties across the United States. One Liberty specializes in net lease arrangements, where tenants assume responsibility for most property expenses, providing the REIT with relatively stable and predictable income streams from its geographically diversified portfolio.
Business
One Liberty Properties operates in the commercial real estate sector as a diversified REIT, meaning it invests in multiple property types rather than specializing in a single category. A REIT, or Real Estate Investment Trust, is a company that owns, operates, or finances income-generating real estate and is required to distribute at least 90% of its taxable income to shareholders as dividends. The company's portfolio consists of several key property segments. Industrial properties form a significant portion of the portfolio and include warehouses, distribution centers, and manufacturing facilities that serve the logistics and supply chain needs of businesses. Retail properties encompass shopping centers, standalone retail buildings, and commercial spaces leased to various retailers. Restaurant properties include both standalone restaurant buildings and properties within larger commercial developments leased to dining establishments. Health and fitness facilities comprise gyms, medical offices, and wellness centers. Theater properties include entertainment venues such as movie theaters and performance spaces. The distinguishing feature of One Liberty's business model is its focus on net lease arrangements. Under these lease structures, tenants are responsible for paying property taxes, insurance, and routine maintenance costs in addition to their base rent. This arrangement shifts many of the variable costs and operational responsibilities from the landlord to the tenant, creating a more predictable income stream for the REIT. Many of these leases are long-term agreements, providing stable cash flows over extended periods.
Revenue model
One Liberty Properties generates revenue primarily through rental income from its diversified portfolio of commercial properties. The company's business model is built around collecting monthly or quarterly rent payments from tenants who lease space in their industrial, retail, restaurant, health and fitness, and theater properties. With annual revenues of approximately $90-92 million based on recent financial performance, the company maintains a steady income stream from its geographically diversified tenant base. The net lease structure is central to the company's profitability model. Under these arrangements, tenants pay a base rent plus additional costs including property taxes, insurance, and maintenance expenses. This structure provides several advantages: it creates predictable cash flows since many variable property costs are passed through to tenants, reduces the landlord's operational responsibilities and associated costs, and typically results in higher margins compared to gross lease arrangements where the landlord bears these expenses. Several factors can impact One Liberty's margins and profitability. Interest rate environments significantly affect the company's cost of capital, as REITs typically carry substantial debt to finance property acquisitions. Rising rates increase borrowing costs and can compress margins, while falling rates provide opportunities for refinancing at lower costs. Local real estate market conditions influence both rental rates and property values, with strong markets enabling rent increases and supporting asset appreciation. Tenant credit quality and industry health directly impact occupancy rates and collection risks, particularly important given the company's exposure to retail and restaurant sectors that can be cyclical. Competition from other landlords in each local market affects pricing power and tenant retention. Additionally, property maintenance and capital expenditure requirements can vary significantly, even in net lease arrangements, affecting overall returns on invested capital.
Competitive moat
One Liberty Properties operates in a competitive commercial real estate market with limited structural moats. The company's primary competitive advantages are relatively modest and center around its operational experience and local market knowledge accumulated over four decades of operation. This experience helps in property selection, tenant evaluation, and lease negotiation, though these advantages are not insurmountable barriers to entry. The company's diversified portfolio approach provides some defensive characteristics by reducing concentration risk across property types and geographic markets. However, this diversification strategy is easily replicable by competitors and does not create a sustainable competitive advantage. The long-term net lease arrangements provide temporary moats through contracted cash flows, but these erode over time as leases expire and must be renewed at market rates. The commercial real estate sector faces significant competitive pressures from multiple sources. Larger REITs with greater scale can often outbid smaller players like One Liberty for attractive properties and typically have lower costs of capital. Private equity firms and institutional investors represent formidable competition for property acquisitions, often with more flexible capital structures. Direct property ownership by corporations can reduce demand for leased space in certain sectors. Additionally, changing business models and e-commerce growth pose ongoing challenges, particularly for retail properties in the portfolio. The company's relatively small size, with a market capitalization of approximately $538 million, limits its ability to compete for larger, higher-quality properties and results in higher relative costs of capital compared to larger REITs. The lack of significant barriers to entry in commercial real estate investment means that One Liberty's moat is weak and primarily dependent on management execution rather than structural competitive advantages.
Risks & safety
One Liberty Properties presents a moderate margin of safety profile with some areas of concern regarding liquidity and leverage. • Liquidity concerns: Current ratio of 0.88 indicates current liabilities exceed current assets by approximately $3.3 million, suggesting potential near-term liquidity pressure • Cash position: $8.2 million in cash and short-term investments provides limited financial flexibility for a company with $811 million in total assets • Debt levels: Debt-to-equity ratio of 1.55 indicates moderate leverage, with total liabilities of $507 million against $304 million in equity • Operational cash flow: Strong operating cash flow of $11 million quarterly ($39 million annually) provides debt service coverage • Valuation metrics: Trading at 32.9x P/E ratio appears expensive, though EV/EBITDA of 15.6x is more reasonable for a REIT • Dividend sustainability: As a REIT, the company must distribute most earnings, limiting retained cash for financial flexibility • Asset coverage: $811 million in total assets against $507 million in liabilities provides reasonable asset coverage, though real estate values can be volatile
Recent development
Based on the available financial data spanning 2022-2025, One Liberty Properties has demonstrated relatively stable operational performance with some notable trends. The company has maintained consistent revenue levels around $90-92 million annually, though there was a slight decline from $92.2 million in 2022 to $90.6 million in 2024, suggesting some challenges in maintaining growth momentum. Financial performance trends show fluctuating profitability, with net income varying significantly from $42.3 million in 2022 to $29.6 million in 2023, then recovering to $30.4 million in 2024. This volatility likely reflects changes in property valuations, one-time gains or losses, and varying levels of property acquisition and disposition activity. Balance sheet management has shown improvement in liquidity positioning, with cash and short-term investments increasing from $6.7 million at the end of 2022 to $42.3 million by the end of 2024. This significant cash build-up suggests the company may be preparing for acquisition opportunities or has recently completed property dispositions. Operational efficiency has remained relatively stable, with EBITDA margins consistently in the 80-85% range, reflecting the benefits of the net lease model where tenants bear most property operating expenses. The company's debt-to-equity ratio has remained relatively stable around 1.35-1.40, indicating disciplined leverage management. Without access to detailed earnings call transcripts, specific strategic initiatives or new product developments cannot be identified, but the financial trends suggest a focus on maintaining portfolio quality and building financial flexibility rather than aggressive expansion.
OLP company profile · for informational purposes only — not investment advice.
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