One Liberty Properties, Inc. (NYSE:OLP) to Issue $0.45 Quarterly Dividend

One Liberty Properties, Inc. (NYSE:OLP) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Tuesday, September 24th will be given a dividend of 0.45 per share by the real estate investment trust on Wednesday, October 2nd. This represents a $1.80 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Tuesday, September 24th.

One Liberty Properties has a payout ratio of 333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect One Liberty Properties to earn $1.71 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 105.3%.

One Liberty Properties Stock Performance

Shares of NYSE OLP traded up $0.21 during trading on Thursday, reaching $27.07. 5,043 shares of the company traded hands, compared to its average volume of 52,203. One Liberty Properties has a 12-month low of $17.55 and a 12-month high of $27.18. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.35. The stock has a market cap of $570.26 million, a P/E ratio of 19.93, a PEG ratio of 3.15 and a beta of 1.36. The firm’s fifty day simple moving average is $25.60 and its 200 day simple moving average is $23.78.

One Liberty Properties (NYSE:OLP) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating 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 company had revenue of $21.80 million during the quarter, compared to analysts’ expectations of $22.37 million. As a group, research analysts anticipate that One Liberty Properties will post 1.68 earnings per share for the current fiscal year.

Insider Activity at One Liberty Properties

In other news, COO Lawrence Ricketts sold 4,756 shares of One Liberty Properties stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $24.14, for a total value of $114,809.84. Following the sale, the chief operating officer now owns 187,345 shares in the company, valued at $4,522,508.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other One Liberty Properties news, EVP Justin Clair sold 3,125 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $26.63, for a total value of $83,218.75. Following the transaction, the executive vice president now owns 39,249 shares in the company, valued at approximately $1,045,200.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lawrence Ricketts sold 4,756 shares of One Liberty Properties stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $24.14, for a total transaction of $114,809.84. Following the sale, the chief operating officer now directly owns 187,345 shares in the company, valued at approximately $4,522,508.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,714 shares of company stock valued at $709,258. 25.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

About One Liberty Properties

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.