ONE LIBERTY PROPERTIES INC SEC 10-Q Report

One Liberty Properties, Inc., a real estate investment trust (REIT) specializing in the ownership and management of a diversified portfolio of commercial properties, has released its Form 10-Q report for the first quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational activities during the period.

Financial Highlights

Total Revenues: $24.17 million, increased by 6.5% from the previous year due to acquisitions and same-store growth.

Operating Income: $9.62 million, reflecting a slight decrease from the previous year due to higher operating expenses.

Net Income: $4.17 million, decreased by 22.5% compared to the previous year, impacted by increased interest expenses.

Net Income Attributable to One Liberty Properties, Inc.: $4.16 million, reflecting a decrease from the previous year.

Basic EPS: $0.18, decreased from $0.24 in the previous year, reflecting lower net income.

Diluted EPS: $0.18, decreased from $0.23 in the previous year, indicating a reduction in earnings per share.

Business Highlights

Geographical Performance: As of March 31, 2025, One Liberty Properties, Inc. owns 105 properties located in 32 states, with an occupancy rate of approximately 98.5%. This indicates a strong geographical presence and high occupancy across its diversified portfolio.

Sales Units: During the three months ended March 31, 2025, the company acquired three industrial properties in Theodore, Alabama; Wichita, Kansas; and Council Bluffs, Iowa, contributing to its portfolio expansion.

Future Outlook: The company continues to focus on acquiring industrial properties and managing risks through diversification among locations, tenants, and lease expirations. It also aims to maintain its REIT status by distributing at least 90% of ordinary taxable income to stockholders.

Operational Strategy: One Liberty Properties, Inc. seeks to manage its real property portfolio by diversifying among locations, tenants, and lease expirations, and minimizing exposure to interest rate fluctuations. The company monitors tenant financial conditions to mitigate risks of non-payment.

Challenges and Uncertainties: The company faces challenges due to the volatile economic environment, including potential impacts on its seaport-based industrial/warehouse properties and issues related to its Beachwood, Ohio property, The Vue. These challenges could affect cash flow and profitability if not resolved satisfactorily.

SEC Filing: ONE LIBERTY PROPERTIES INC [ OLP ] - 10-Q - May. 06, 2025