One Liberty Properties Inc . (NYSE:) shares hit a 52-week high of $27.18. This peak represents a significant upside for the real estate investment trust, which saw an impressive 1-year change of 40.32%. Investors have shown increased confidence in the company’s portfolio and management, as evidenced by the stock’s solid performance over the past year. The 52-week high is a notable milestone for One Liberty Properties, indicating potential optimism in the company’s growth prospects and stability in its income-producing real estate assets.
In other recent news, One Liberty Properties continues to make significant strides in its financial and operational activities. The company declared a quarterly dividend of $0.45 per share, marking its 127th consecutive quarterly dividend. This commitment to shareholder returns reflects One Liberty Properties’ consistent approach to investor returns.
In line with its active capital recycling strategy, the company completed a property disposal worth $23.0 million and acquired two industrial facilities worth a total of $11.7 million. B. Riley, who maintains a Buy rating on the company’s stock, raised his price target on the stock from $25.00 to $26.00, highlighting the potential benefits of this strategy.
One Liberty Properties announced the sale of a vacant retail property in Kennesaw, Georgia for $6.7 million and a $2.1 million gain. This is in line with the company’s retail property strategy to finance the acquisition of industrial assets.
In addition, One Liberty Properties is under contract to acquire a larger industrial property for $33.0 million and completed the purchase of a 35,249 square foot industrial property in Savannah, Georgia for $5.2 million. In light of these transactions, the company has also been active in its leasing activities, renegotiating a lease with Fitness International, LLC on a property in Secaucus, New Jersey, extending it through 2040 and increasing the annual rent.
However, problems arose with the LA Fitness facility in Hamilton, Ohio, prompting One Liberty to enter into a non-binding letter of intent to sell the property for $4.4 million. These are the latest developments for One Liberty Properties.
InvestingPro Insights
One Liberty Properties Inc. ( OLP ) really caught the attention of investors as it climbed to a 52-week high. In light of this achievement, a closer look at the company’s financials and performance provides further insight. According to InvestingPro data, the company has a strong gross profit margin of 80.7% for the trailing twelve months to Q2 2024, indicating its ability to manage costs and increase profits on its $88.58 million in revenue. Additionally, the company has maintained an attractive dividend yield of 6.7% for 34 consecutive years, a testament to its commitment to returning value to shareholders through dividend payments.
InvestingPro Tips suggests that OLP trades at a high P/E ratio of 17.67, which could raise questions about its valuation of near-term earnings growth, the company’s trailing profitability over the past twelve months, and positive analyst forecasts for this year’s profitability. provides a balance against evaluation concerns. Furthermore, with a 3-month price gross return of 15.44%, OLP has shown strong returns in the last quarter, aligning with the overall positive sentiment reflected in its share price performance.
For investors looking for more in-depth analysis, you can find more InvestingPro Tips on the platform, which includes additional insights and metrics that can further inform investment decisions about One Liberty Properties Inc.
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