One Liberty Properties (NYSE:OLP) Sets New 52-Week High After Dividend Announcement

One Liberty Properties, Inc. (NYSE:OLP)’s stock price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $27.18 and last traded at $27.18, with a volume of 4363 shares. The stock had previously closed at $26.86.

The newly announced dividend which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend is Tuesday, September 24th. One Liberty Properties’s dividend payout ratio is presently 132.35%.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their price objective on shares of One Liberty Properties from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th.

One Liberty Properties Price Performance

The firm has a market cap of $602.43 million, a PE ratio of 20.76, a price-to-earnings-growth ratio of 3.20 and a beta of 1.36. The stock has a 50 day simple moving average of $25.79 and a two-hundred day simple moving average of $23.86. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.98 and a current ratio of 2.98.

One Liberty Properties (NYSE:OLP) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.45 EPS for the quarter, topping the consensus estimate of $0.39 by $0.06. One Liberty Properties had a return on equity of 10.58% and a net margin of 36.11%. The firm had revenue of $21.80 million for the quarter, compared to analyst estimates of $22.37 million. Sell-side analysts expect that One Liberty Properties, Inc. will post 1.68 earnings per share for the current year.

Insider Activity

In related news, EVP Justin Clair sold 3,125 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $26.63, for a total transaction of $83,218.75. Following the sale, the executive vice president now directly owns 39,249 shares of the company’s stock, valued at $1,045,200.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other One Liberty Properties news, SVP Jeffrey Gould sold 3,220 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $23.45, for a total value of $75,509.00. Following the sale, the senior vice president now directly owns 371,273 shares of the company’s stock, valued at $8,706,351.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Justin Clair sold 3,125 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $26.63, for a total value of $83,218.75. Following the completion of the sale, the executive vice president now owns 39,249 shares of the company’s stock, valued at $1,045,200.87. The disclosure for this sale can be found here. Insiders sold a total of 29,714 shares of company stock valued at $709,258 in the last three months. 25.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On One Liberty Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its holdings in One Liberty Properties by 123.7% in the 4th quarter. Quadrant Capital Group LLC now owns 7,407 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 4,096 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in One Liberty Properties by 68.8% in the 1st quarter. BNP Paribas Financial Markets now owns 7,746 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 3,157 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in One Liberty Properties by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,077 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 580 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of One Liberty Properties by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,766,778 shares of the real estate investment trust’s stock worth $39,912,000 after buying an additional 10,490 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in One Liberty Properties during the first quarter worth about $219,000. 36.24% of the stock is owned by hedge funds and other institutional investors.

One Liberty Properties Company Profile

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982. The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial and retail properties. Many of these properties are subject to long-term net leases under which the tenant is typically responsible for the property's real estate taxes, insurance and ordinary maintenance and repairs.