Siri Leor, a director at One Liberty Properties Inc . (NYSE:OLP), recently sold 1,178 shares of common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $28.5588, amounting to a total transaction value of $33,642. Following this sale, Leor directly owns 30,450 shares of the company. Additionally, there is an indirect holding of 287 shares, managed by a spouse as custodian for children under the UGMA. The transaction was executed on November 13, 2024.
In other recent news, One Liberty Properties, a real estate investment trust, has declared a quarterly dividend of $0.45 per share, marking its 127th consecutive quarterly dividend. The company has consistently maintained or increased its dividends for over three decades, reflecting a steady return for its investors. In addition to this, One Liberty Properties has been actively managing its real estate portfolio, primarily focusing on industrial assets.
The company reported $23.0 million in property dispositions during the recent quarter, alongside the acquisition of two industrial properties for a total of $11.7 million. It is also under contract to acquire a larger industrial property for $33.0 million. B.Riley, maintaining a Buy rating on the company's stock, recently increased the shares target to $26.00 from $25.00, noting the active capital recycling strategy.
One Liberty Properties sold a vacant retail property in Kennesaw, Georgia for $6.7 million, marking a gain of $2.1 million, and acquired a 35,249-square-foot industrial facility in Savannah, Georgia for $5.2 million. The company also renegotiated a lease with Fitness International, LLC, extending it through 2040 and increasing annual rent. These are among the recent developments for One Liberty Properties.
InvestingPro Insights
While Siri Leor's recent sale of One Liberty Properties Inc. (NYSE:OLP) shares might raise eyebrows, a closer look at the company's financial metrics and market performance reveals a more nuanced picture. According to InvestingPro data, OLP's stock is currently trading near its 52-week high, with a robust 55.6% price total return over the past year. This strong performance aligns with an InvestingPro Tip indicating that OLP has shown a high return over the last year.
The company's financial health appears solid, with an InvestingPro Tip highlighting that OLP's liquid assets exceed short-term obligations. This suggests a strong balance sheet and ability to meet near-term financial commitments. Additionally, OLP boasts an impressive track record of maintaining dividend payments for 34 consecutive years, which may appeal to income-focused investors. The current dividend yield stands at an attractive 6.34%.
From a valuation perspective, OLP's P/E ratio of 17.39 indicates that the stock is trading at a relatively modest multiple compared to its earnings. This is further supported by an InvestingPro Tip suggesting that OLP is trading at a low P/E ratio relative to its near-term earnings growth, potentially signaling an undervalued opportunity.
For investors seeking more comprehensive insights, InvestingPro offers 8 additional tips for OLP, providing a deeper understanding of the company's financial position and market outlook.
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