ONE LIBERTY PROPERTIES INC

Listed Company

OLPCIK 0000712770NYSENon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$25.47M

Total Assets

$857.57M

Equity

$299.60M

Shares Out

21.81M

Op. Cash Flow

$37.52M

Business

ONE LIBERTY PROPERTIES INC is a self-administered, self-managed real estate investment trust that acquires, owns and manages commercial real estate assets. It offers long-term net-leased and operating-leased properties, and provides property acquisition, leasing, property management and financing activities, including joint venture investments. Its portfolio is organized by property type, with a primary focus on single-tenant industrial properties and a smaller allocation to retail and other property types (including office, theater, health & fitness and restaurants). It operates throughout the United States, leasing properties directly to tenants under long-term contracts and financing holdings via mortgages and credit facilities.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	97	91	91	92	83
Depreciation and amortization	27	24	25	24	23
Real estate expenses	20	18	16	16	14
General and administrative	16	15	16	15	14
Impairment losses	5	1	0	0	—
State taxes	73,000	1,000	284,000	285,000	291,000
Total operating expenses	68	59	57	55	51
Gain on sale of real estate, net	19	18	17	17	25
Operating income	48	50	50	54	57
Equity in earnings (loss) of unconsolidated joint ventures	101,000	143,000	−904,000	400,000	202,000
Equity in earnings (loss) from sale of unconsolidated joint venture properties	991,000	—	−108,000	—	805,000
Income on settlement of litigation	1	—	—	5	—
Other income	609,000	1	234,000	1	869,000
Expense	−23	−19	−19	−18	—
Amortization and write-off of deferred financing costs	−1	−968,000	−839,000	−1	−970,000
Net income	27	31	30	42	39
Net income attributable to non-controlling interests	−2	−381,000	−304,000	−76,000	−177,000
Net income attributable to One Liberty Properties, Inc.	25	30	30	42	39
Basic (in shares)	21	21	20	20	20
Diluted (in shares)	21	21	21	20	20
Basic (in dollars per share)	1.16	1.41	1.38	2	1.87
Diluted (in dollars per share)	1.15	1.4	1.38	1.99	1.85
Cash distributions per share of common stock (in dollars per share)	1.8	1.8	1.8	1.8	1.8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land	153	166	172	182	180
Buildings and improvements	819	695	692	698	657
Total real estate investments, at cost	972	861	865	880	838
Less accumulated depreciation	195	188	183	173	161
Real estate investments, net	778	672	682	706	677
Investment in unconsolidated joint ventures	203,000	2	2	10	10
Cash and cash equivalents	14	42	26	7	16
Unbilled rent receivable	17	17	17	16	14
Unamortized intangible lease assets, net	26	14	15	20	21
Escrow, deposits and other assets and receivables	23	20	20	24	13
Total assets	858	767	762	783	753
Mortgages payable, net	517	421	418	405	396
Line of credit	0	0	—	21	11
Dividends payable	10	10	10	10	9
Accrued expenses and other liabilities	17	16	16	19	19
Unamortized intangible lease liabilities, net	13	12	10	11	10
Total liabilities	558	458	454	466	447
Commitments and contingencies	—	—	—	—	—
Preferred stock, $1 par value; 12,500 shares authorized; none issued	—	—	—	—	—
Common stock, $1 par value; 50,000 shares authorized; 20,916 and 20,698 shares issued and outstanding	21	21	20	20	20
Paid-in capital	341	336	326	326	323
Accumulated other comprehensive income	16,000	208,000	844,000	2	−2
Distributions in excess of net income	−63	−49	−41	−32	−36
Total One Liberty Properties, Inc. stockholders' equity	300	307	307	316	305
Non-controlling interests in consolidated joint ventures	194,000	1	1	972,000	946,000
Total equity	300	309	308	317	306
Total liabilities and equity	858	767	762	783	753

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gain on sale of real estate, net	−19	−18	−17	−17	−25
Increase in net amortization of unbilled rental income	−2	−2	−2	−2	−234,000
Write-off of unbilled rent receivable	—	50,000	133,000	—	—
Amortization and write-off of intangibles relating to leases, net	−1	−1	−952,000	−831,000	−785,000
Amortization of restricted stock and RSU compensation expense	5	5	5	6	5
Distributions of earnings from unconsolidated joint venture	1	93,000	194,000	172,000	1
Depreciation and amortization	27	24	25	24	23
Amortization and write-off of deferred financing costs	1	968,000	839,000	1	970,000
Payment of leasing commissions	−492,000	−632,000	−755,000	−3	−1
(Increase) decrease in escrow, deposits, other assets and receivables	−9	−944,000	4	−7	7
Increase (decrease) in accrued expenses and other liabilities	2	−668,000	596,000	1	1
Net cash provided by operating activities	38	39	46	44	49
Purchase of real estate	−190	−45	−9	−51	−25
Improvements to real estate	−4	−4	−5	−5	−4
Investments in ground leased property	−336,000	−100,000	−932,000	−697,000	−2
Net proceeds from sale of real estate	69	58	41	30	53
Net proceeds from repayment of loan receivable	2	—	—	—	—
Distributions of capital from unconsolidated joint venture	2	—	7	—	97,000
Net cash (used in) provided by investing activities	−123	10	33	−25	23
Proceeds from mortgage financings	133	78	36	71	11
Repayments of mortgages financings	−24	−64	−15	−55	−31
Scheduled amortization payments of mortgages payable	−11	−12	−12	−13	−14
Proceeds from bank line of credit	21	—	41	53	21
Repayments on bank line of credit	−21	—	−63	−43	−22
Issuance of shares through dividend reinvestment plan	735,000	4	5	2	977,000
Repurchases of common stock, net	—	—	−10	−5	—
Proceeds from sale of common stock, net	—	1	—	563,000	3
Payment of financing costs	−2	−1	−716,000	−2	−232,000
Capital contribution from non-controlling interests	—	43,000	—	—	25,000
Distributions to non-controlling interests	−3	−316,000	−233,000	−52,000	−457,000
Cash distributions to common stockholders	−39	−38	−38	−38	−37
Net cash provided by (used in) financing activities	55	−33	−57	−28	−69
Net (decrease) increase in cash, cash equivalents and restricted cash	−30	16	22	−9	3
Cash paid for interest expense	22	19	19	17	19
Purchase accounting allocation - intangible lease assets	17	4	871,000	4	2
Purchase accounting allocation - intangible lease liabilities	−3	−4	−237,000	−2	−632,000
Purchase accounting allocation - mortgage intangible asset	—	—	260,000	670,000	—
Assumption of mortgage payable upon acquisition of property	—	—	4	6	—
Lease liabilities adjustment from the reassessment of right of use assets	—	—	3	—	—
Loan receivable in connection with sale of property	—	—	2	—	—

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