One Liberty Properties stock hits 52-week high at $27.18 By Investing.com

One Liberty Properties Inc . (NYSE:) stock has soared to a 52-week high, reaching a price level of $27.18. This peak reflects a significant uptrend for the real estate investment trust, which has seen an impressive 1-year change with an increase of 40.32%. Investors have shown increased confidence in the company’s portfolio and management, as evidenced by the stock’s robust performance over the past year. The climb to a 52-week high is a notable milestone for One Liberty Properties, signaling potential optimism in the company’s growth prospects and stability in its income-generating real estate assets.

In other recent news, One Liberty Properties continues to make significant strides in its financial and operational activities. The company announced 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 alignment with its strategy of active capital recycling, the company has completed $23.0 million in property dispositions and acquired two industrial properties for a total of $11.7 million. B.Riley, which maintains a Buy rating on the company’s stock, has raised the shares target to $26.00 from $25.00, highlighting the potential benefits of this strategy.

One Liberty Properties also announced the sale of a vacant retail property in Kennesaw, Georgia, for $6.7 million, marking a gain of $2.1 million. This aligns with the company’s strategy of selling retail properties to fund the acquisition of industrial assets.

Furthermore, One Liberty Properties is under contract to acquire a larger industrial property for $33.0 million and completed the acquisition of a 35,249-square-foot industrial facility in Savannah, Georgia for $5.2 million. Amid these transactions, the company has also been active in leasing activities, renegotiating a lease with Fitness International, LLC for a property in Secaucus, New Jersey, extending it through 2040 and increasing annual rent.

However, challenges have arisen with an LA Fitness facility in Hamilton, Ohio, leading One Liberty to enter into a non-binding letter of intent to sell the property for $4.4 million. These are the recent developments for One Liberty Properties.

InvestingPro Insights

One Liberty Properties Inc. (OLP) has indeed captured the attention of investors with its climb to a 52-week high. In light of this achievement, a closer look at the company’s financial metrics and performance provides further insights. According to InvestingPro data, the company boasts a high gross profit margin of 80.7% over the last twelve months as of Q2 2024, indicating a strong ability to control costs and maximize profits from its revenues of $88.58M. Additionally, the company has maintained an attractive dividend yield of 6.7%, a testament to its commitment to returning value to shareholders, with dividend payments sustained for 34 consecutive years.

InvestingPro Tips suggest that while OLP is trading at a high P/E ratio of 17.67, which may raise questions about its valuation relative to near-term earnings growth, the company’s consistent profitability over the last twelve months and positive analyst predictions for this year’s profitability provide a counterbalance to valuation concerns. Furthermore, with a 3-month price total return of 15.44%, OLP has demonstrated a strong return over the recent quarter, aligning with the overall positive sentiment reflected in its stock price performance.

For investors seeking a deeper analysis, more InvestingPro Tips can be found on the platform, which includes additional insights and metrics that can further inform investment decisions regarding One Liberty Properties Inc.

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