One Liberty Properties, Inc. (OLP) 10-Year Financial Performance & Capital Metrics

OLP • • REIT / Real Estate

Real EstateDiversified REITsSingle-Tenant Net Lease REITsDiversified Net Lease Operators

AboutOne 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, retail, restaurant, health and fitness and theater 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.Show more

Revenue $91M
FFO $55M +0.6%
FFO/Share 2.64 -0.2%
FFO Payout 70.3% +0.3%
FFO per Share 2.64 -0.2%
NOI Margin 80.23% -2.0%
FFO Margin 60.41% +0.7%
ROE 9.87% +4.1%
ROA 3.98% +3.8%
Debt/Assets 54.83% -3.3%
Net Debt/EBITDA 5.10 -5.5%
Book Value/Share 14.89 -0.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 10.1% TTM
✓Sustainable FFO payout ratio of 70.3%
✓High NOI margin of 80.2%
✓Trading at only 1.4x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.12%

5Y1.56%

3Y3.06%

TTM9.02%

Profit (Net Income) CAGR

10Y3.24%

5Y11.05%

3Y-7.84%

TTM-3.59%

EPS CAGR

10Y-0.07%

5Y-

3Y12.24%

TTM-6.67%

ROCE

10Y Avg6.11%

5Y Avg7.22%

3Y Avg7.22%

Latest7.04%

Peer Comparison

Diversified Net Lease Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WPCW. P. Carey Inc.	15.1B	68.92	32.98	-9.22%	19.19%	4.47%	11.24%	0.97
BNLBroadstone Net Lease, Inc.	3.51B	18.54	21.56	-2.5%	20.04%	2.98%	7.4%	0.61
OLPOne Liberty Properties, Inc.	462.56M	21.37	15.26	-0.09%	34.51%	10.99%	8.44%	1.36
NLOPNet Lease Office Properties	288.87M	19.50	-3.16	-18.7%	-156.16%	-41.68%	24.88%	0.29
GNLGlobal Net Lease, Inc.	2.03B	9.25	-12.17	56.29%	-48.52%	-16.47%	12.52%	2.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	65.71M	70.59M	75.92M	79.13M	83.8M	81.93M	82.74M	92.22M	90.65M	90.56M
Revenue Growth %	0.09%	0.07%	0.08%	0.04%	0.06%	-0.02%	0.01%	0.11%	-0.02%	-0%
Property Operating Expenses	6.8M	9.84M	11.04M	11.6M	14.07M	13.63M	13.8M	15.51M	16.44M	17.9M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	26.25M	29.06M	32.91M	36.46M	29.55M	20.12M	11.97M	22.56M	23.89M	22.76M
G&A Expenses	9.53M	10.69M	11.28M	11.94M	12.44M	13.67M	14.31M	15.26M	15.82M	15.39M
EBITDA+	49.04M	69.71M	75.17M	82.33M	57.25M	65.74M	79.8M	77.93M	75.1M	74.19M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	16.38M	38.02M	43.2M	46M	17.07M	17.57M	22.83M	23.78M	24.79M	24.29M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	32.65M	31.69M	31.97M	36.33M	40.17M	48.17M	56.97M	54.15M	50.31M	49.9M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	17.94M	17.57M	18.78M	19.46M
Interest Coverage	-	-	-	-	-	-	3.18x	3.08x	2.68x	2.56x
Non-Operating Income	-5.28M	-976K	-1.04M	-3.1M	4.31M	16.81M	-5K	-5.68M	1.62M	-361K
Pretax Income+	20.52M	24.42M	24.15M	20.66M	18.54M	27.41M	39.03M	42.25M	29.92M	30.8M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	32.67M	33M	23.99M	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	20.52M	24.42M	24.15M	20.66M	18.01M	27.41M	38.86M	42.18M	29.61M	30.42M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.07%	0.19%	-0.01%	-0.14%	-0.13%	0.52%	0.42%	0.09%	-0.3%	0.03%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0%	0.69%	0.08%	-0.01%	-0.47%	0.28%	0.37%	0.07%	-0.18%	0.01%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.28	1.45	1.34	1.11	-0.05	0.44	0.99	1.99	1.38	1.40
EPS Growth %	-0.09%	0.13%	-0.08%	-0.17%	-1.05%	9.27%	1.25%	1.01%	-0.31%	0.01%
EPS (Basic)	1.28	1.46	1.35	1.11	-0.05	0.44	0.99	2.00	1.38	1.41
Diluted Shares Outstanding	16.08M	16.88M	18.05M	18.59M	19.12M	19.6M	20.26M	20.45M	20.56M	20.72M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	650.38M	733.45M	742.59M	780.91M	774.63M	776.14M	752.95M	783.25M	761.61M	766.95M
Asset Growth %	0.1%	0.13%	0.01%	0.05%	-0.01%	0%	-0.03%	0.04%	-0.03%	0.01%
Real Estate & Other Assets+	12.26M	-726.55M	-735.96M	-772.89M	711.43M	712.59M	690.32M	730.22M	679.2M	691.9M
PP&E (Net)	562.26M	651.21M	666.37M	705.46M	0	0	0	0	2.75M	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	43.88M	31.86M	28.33M	30.03M	26.07M	28.14M	31.76M	22.8M	43.09M	59.3M
Cash & Equivalents	12.74M	17.42M	13.77M	15.2M	11.03M	12.71M	16.16M	6.72M	26.43M	42.31M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	17.57M	7.54M	7.07M	9.13M	0	0	0	0	0	0
Intangible Assets	28.98M	32.65M	30.52M	26.54M	26.07M	24.7M	0	0	14.68M	13.65M
Total Liabilities	387.95M	441.52M	444.08M	482.32M	482.64M	484.18M	446.68M	466.32M	453.86M	458.38M
Total Debt+	352.68M	403.96M	401.93M	448.49M	459.09M	453.42M	407.83M	426.23M	431.81M	420.56M
Net Debt	339.94M	386.54M	388.17M	433.28M	448.06M	440.71M	391.66M	419.51M	405.38M	378.24M
Long-Term Debt	353.1M	394.9M	393.16M	418.8M	435.84M	429.7M	396.34M	405.16M	356.57M	420.56M
Short-Term Borrowings	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K	0
Capital Lease Obligations	14.52M	19.28M	17.55M	14.01M	12.42M	11.19M	0	0	13.46M	3.02M
Total Current Liabilities+	39M	9.06M	8.78M	29.69M	34.38M	43.28M	39.92M	50.03M	85.48M	26.07M
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	-22.04M	11.76M	10.36M	30.23M	0	0	10.41M	11.13M	-1.64M	11.75M
Total Equity+	262.43M	291.93M	298.5M	298.6M	291.98M	291.96M	306.28M	316.94M	307.75M	308.57M
Equity Growth %	0.03%	0.11%	0.02%	0%	-0.02%	-0%	0.05%	0.03%	-0.03%	0%
Shareholders Equity	260.5M	290.13M	296.76M	297.15M	290.76M	290.77M	305.33M	315.96M	306.7M	307.43M
Minority Interest	1.93M	1.79M	1.74M	1.45M	1.22M	1.19M	946K	972K	1.04M	1.15M
Common Stock	16.29M	17.6M	18.26M	18.74M	19.25M	19.88M	20.24M	20.36M	20.32M	20.7M
Additional Paid-in Capital	232.38M	262.51M	275.09M	287.25M	301.52M	313.43M	322.79M	325.89M	326.38M	335.54M
Retained Earnings	16.21M	11.5M	3.26M	-10.73M	-28.38M	-37.54M	-36.19M	-32.1M	-40.84M	-49.02M
Preferred Stock	0	11.5M	3.26M	0	0	0	0	0	0	0
Return on Assets (ROA)	0.03%	0.04%	0.03%	0.03%	0.02%	0.04%	0.05%	0.05%	0.04%	0.04%
Return on Equity (ROE)	0.08%	0.09%	0.08%	0.07%	0.06%	0.09%	0.13%	0.14%	0.09%	0.1%
Debt / Assets	0.54%	0.55%	0.54%	0.57%	0.59%	0.58%	0.54%	0.54%	0.57%	0.55%
Debt / Equity	1.34x	1.38x	1.35x	1.50x	1.57x	1.55x	1.33x	1.34x	1.40x	1.36x
Net Debt / EBITDA	6.93x	5.55x	5.16x	5.26x	7.83x	6.70x	4.91x	5.38x	5.40x	5.10x
Book Value per Share	16.32	17.29	16.54	16.06	15.27	14.90	15.11	15.50	14.97	14.89

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	33.92M	31.41M	44.56M	42.65M	36.24M	35.44M	48.66M	44.2M	53.2M	39.06M
Operating CF Growth %	0.07%	-0.07%	0.42%	-0.04%	-0.15%	-0.02%	0.37%	-0.09%	0.2%	-0.27%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	21.91M	24.48M	24.25M	21.56M	16.78M	26.14M	37.53M	40.74M	28.32M	10.53M
Depreciation & Amortization	15.66M	17.45M	20.1M	22.31M	22.03M	22.96M	22.83M	23.78M	24.91M	24.41M
Stock-Based Compensation	2.33M	2.98M	3.13M	3.51M	0	0	0	0	0	4.96M
Other Non-Cash Items	-3.02M	-6.66M	-5.26M	-31K	1.54M	-9.48M	-19.24M	-12.25M	-2.55M	767K
Working Capital Changes	-635K	-3.87M	5.47M	-1.19M	-4.11M	-4.19M	7.54M	-8.08M	2.52M	-1.61M
Cash from Investing+	-73.5M	-80.91M	-23.44M	-59.66M	-12.94M	32K	23.3M	-25.32M	25.81M	9.71M
Acquisitions (Net)	-18.99M	-446K	20K	0	0	10K	25K	0	0	0
Purchase of Investments	-80.13M	42.31M	-43.54M	-80.29M	-50.18M	-28.5M	-26.28M	-51.91M	-10.16M	0
Sale of Investments	1000K	33K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	16.8M	647K	26.66M	-59.66M	0	150K	975K	918K	0	9.71M
Cash from Financing+	31.41M	54.19M	-24.77M	19.08M	-28.07M	-33.87M	-68.86M	-28.27M	-56.69M	-32.88M
Dividends Paid	-25.6M	-28.23M	-31.7M	-34.42M	-35.42M	-29.44M	-37.32M	-37.85M	-38.13M	-38.46M
Common Dividends	-25.6M	-28.23M	-31.7M	-34.42M	0	0	0	0	0	-38.46M
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K
Share Repurchases	0	0	0	0	0	0	0	-5.24M	-9.64M	0
Other Financing	-1.68M	-2.41M	-321K	-2.38M	4.96M	-40K	520K	2.34M	-233K	-1.4M
Net Change in Cash+	-7.61M	4.68M	-3.65M	2.06M	-5.28M	1.67M	3.46M	-9.45M	19.71M	15.89M
Exchange Rate Effect	0	0	0	0	-511K	75K	357K	-57K	-1000K	0
Cash at Beginning	20.34M	12.74M	17.42M	14.67M	16.31M	11.03M	12.71M	16.16M	6.72M	29.59M
Cash at End	12.74M	17.42M	13.77M	16.73M	11.03M	12.71M	16.16M	6.72M	26.43M	45.48M
Free Cash Flow+	-37.4M	-92.05M	-5.54M	35.34M	32.73M	34.4M	44.55M	39.62M	48.33M	39.06M
FCF Growth %	-0.43%	-1.46%	0.94%	7.37%	-0.07%	0.05%	0.3%	-0.11%	0.22%	-0.19%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.29	3.7	3.73	3.59	1.84	2.29	3.04	3.22	2.65	2.64
FFO Payout Ratio	69.37%	45.21%	47.07%	51.63%	100.96%	65.46%	60.49%	57.38%	70.09%	70.3%
NOI Margin	89.65%	86.07%	85.45%	85.34%	83.21%	83.36%	83.32%	83.18%	81.86%	80.23%
Net Debt / EBITDA	6.93x	5.55x	5.16x	5.26x	7.83x	6.70x	4.91x	5.38x	5.40x	5.10x
Debt / Assets	54.23%	55.08%	54.13%	57.43%	59.27%	58.42%	54.16%	54.42%	56.7%	54.83%
Interest Coverage	-	-	-	-	-	-	3.18x	3.08x	2.68x	2.56x
Book Value / Share	16.32	17.29	16.54	16.06	15.27	14.9	15.11	15.5	14.97	14.89
Revenue Growth	8.65%	7.42%	7.55%	4.23%	5.91%	-2.24%	0.99%	11.45%	-1.7%	-0.09%

Revenue by Segment

	2018	2019	2020	2021
Rental income, net	-	-	-	82.18M
Rental income, net Growth	-	-	-	-
Lease termination fees	-	-	-	560K
Lease termination fees Growth	-	-	-	-
Rental Income	-	83.79M	81.89M	-
Rental Income Growth	-	-	-2.27%	-
Lease Termination Fee	372K	950K	15K	-
Lease Termination Fee Growth	-	155.38%	-98.42%	-
Tenant Reimbursement	8.46M	-	-	-
Tenant Reimbursement Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

One Liberty Properties, Inc. (OLP) has a price-to-earnings (P/E) ratio of 15.3x. This is roughly in line with market averages.

Growth & Financials

One Liberty Properties, Inc. (OLP) reported $97.4M in revenue for fiscal year 2024. This represents a 115% increase from $45.2M in 2011.

One Liberty Properties, Inc. (OLP) saw revenue decline by 0.1% over the past year.

Yes, One Liberty Properties, Inc. (OLP) is profitable, generating $33.6M in net income for fiscal year 2024 (33.6% net margin).

Dividend & Returns

Yes, One Liberty Properties, Inc. (OLP) pays a dividend with a yield of 8.69%. This makes it attractive for income-focused investors.

One Liberty Properties, Inc. (OLP) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

Industry Metrics

One Liberty Properties, Inc. (OLP) generated Funds From Operations (FFO) of $59.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

One Liberty Properties, Inc. (OLP) offers a 8.69% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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