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OLP

One Liberty PropertiesNYSE:OLP Stock Report

Market Cap

US$694.7m

7D

0.03%

1Y

64.6%

Updated

07 Dec, 2021

Data

Company Financials +
OLP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health2/6
Dividends4/6

OLP Stock Overview

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982.

One Liberty Properties Competitors

Armada Hoffler Properties

NYSE:AHH

US$1.2b

CTO Realty Growth

NYSE:CTO

US$330.4m

Rexford Industrial Realty

NYSE:REXR

US$11.5b

National Storage Affiliates Trust

NYSE:NSA

US$7.5b

Price History & Performance

Summary of all time highs, changes and price drops for One Liberty Properties
Historical stock prices
Current Share PriceUS$33.22
52 Week HighUS$35.54
52 Week LowUS$19.03
Beta1.41
1 Month Change-2.72%
3 Month Change4.24%
1 Year Change64.62%
3 Year Change26.84%
5 Year Change29.66%
Change since IPO209.02%

Recent News & Updates

Oct 19

One Liberty Properties: Surprisingly Strong Track Record Despite Drawbacks

OLP is a diversified net lease REIT that has been shifting its portfolio mix more toward industrial properties in recent years, mostly through dispositions of non-industrial properties. On the surface, OLP looks like a low-quality REIT, having acquired properties at well above the average cap rate for industrial properties in the last few years. Fundamentally, the picture is mixed for OLP. Industrial is strong right now, but portfolio occupancy has been slipping. Despite these drawbacks, OLP has a very impressive track record of long-term outperformance against peer W. P. Carey as well as the broad REIT index.

Shareholder Returns

OLPUS REITsUS Market
7D0.03%0.6%-2.6%
1Y64.6%29.3%17.8%

Return vs Industry: OLP exceeded the US REITs industry which returned 26% over the past year.

Return vs Market: OLP exceeded the US Market which returned 16.5% over the past year.

Price Volatility

Is OLP's price volatile compared to industry and market?
OLP volatility
OLP Average Weekly Movement4.0%
REITs Industry Average Movement3.7%
Market Average Movement6.2%
10% most volatile stocks in US Market14.8%
10% least volatile stocks in US Market2.4%

Stable Share Price: OLP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: OLP's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19829Patrick Callanhttps://www.onelibertyproperties.com

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, 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.

One Liberty Properties Fundamentals Summary

How do One Liberty Properties's earnings and revenue compare to its market cap?
OLP fundamental statistics
Market CapUS$694.67m
Earnings (TTM)US$34.50m
Revenue (TTM)US$79.98m

20.1x

P/E Ratio

8.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OLP income statement (TTM)
RevenueUS$79.98m
Cost of RevenueUS$13.20m
Gross ProfitUS$66.79m
ExpensesUS$32.29m
EarningsUS$34.50m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.65
Gross Margin83.50%
Net Profit Margin43.13%
Debt/Equity Ratio134.0%

How did OLP perform over the long term?

See historical performance and comparison

Dividends

5.4%

Current Dividend Yield

105%

Payout Ratio

Valuation

Is One Liberty Properties undervalued compared to its fair value and its price relative to the market?

34.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: OLP ($33.22) is trading below our estimate of fair value ($50.62)

Significantly Below Fair Value: OLP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OLP is good value based on its PE Ratio (20.1x) compared to the US REITs industry average (45.9x).

PE vs Market: OLP is poor value based on its PE Ratio (20.1x) compared to the US market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: OLP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: OLP is overvalued based on its PB Ratio (2.3x) compared to the US REITs industry average (2x).


Future Growth

How is One Liberty Properties forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-69.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OLP's earnings are forecast to decline over the next 3 years (-69.4% per year).

Earnings vs Market: OLP's earnings are forecast to decline over the next 3 years (-69.4% per year).

High Growth Earnings: OLP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: OLP's revenue (4.7% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: OLP's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OLP's Return on Equity is forecast to be high in 3 years time


Past Performance

How has One Liberty Properties performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OLP has a large one-off gain of $25.5M impacting its September 30 2021 financial results.

Growing Profit Margin: OLP's current net profit margins (43.1%) are higher than last year (32.3%).


Past Earnings Growth Analysis

Earnings Trend: OLP's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: OLP's earnings growth over the past year (25.9%) exceeds its 5-year average (5.5% per year).

Earnings vs Industry: OLP earnings growth over the past year (25.9%) underperformed the REITs industry 27.7%.


Return on Equity

High ROE: OLP's Return on Equity (11.8%) is considered low.


Financial Health

How is One Liberty Properties's financial position?


Financial Position Analysis

Short Term Liabilities: OLP's short term assets ($43.3M) exceed its short term liabilities ($20.2M).

Long Term Liabilities: OLP's short term assets ($43.3M) do not cover its long term liabilities ($426.6M).


Debt to Equity History and Analysis

Debt Level: OLP's net debt to equity ratio (129.5%) is considered high.

Reducing Debt: OLP's debt to equity ratio has reduced from 156% to 134% over the past 5 years.

Debt Coverage: OLP's debt is not well covered by operating cash flow (11.3%).

Interest Coverage: OLP's interest payments on its debt are not well covered by EBIT (1.5x coverage).


Balance Sheet


Dividend

What is One Liberty Properties's current dividend yield, its reliability and sustainability?

5.42%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: OLP's dividend (5.42%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: OLP's dividend (5.42%) is in the top 25% of dividend payers in the US market (3.62%)


Stability and Growth of Payments

Stable Dividend: OLP's dividends per share have been stable in the past 10 years.

Growing Dividend: OLP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (105.3%), OLP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

15.9yrs

Average management tenure


CEO

Patrick Callan (58 yo)

15.92yrs

Tenure

US$1,831,230

Compensation

Mr. Patrick J. Callan, Jr. has been the Chief Executive Officer and President of One Liberty Properties, Inc. since January 1, 2008 and January 3, 2006 respectively. Mr. Callan was a Senior Vice President...


CEO Compensation Analysis

Compensation vs Market: Patrick's total compensation ($USD1.83M) is about average for companies of similar size in the US market ($USD2.35M).

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: OLP's management team is seasoned and experienced (15.9 years average tenure).


Board Members

Experienced Board: OLP's board of directors are seasoned and experienced ( 17.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OLP insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

One Liberty Properties, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: One Liberty Properties, Inc.
  • Ticker: OLP
  • Exchange: NYSE
  • Founded: 1982
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: US$694.669m
  • Shares outstanding: 20.91m
  • Website: https://www.onelibertyproperties.com

Number of Employees


Location

  • One Liberty Properties, Inc.
  • 60 Cutter Mill Road
  • Suite 303
  • Great Neck
  • New York
  • 11021
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/07 00:19
End of Day Share Price2021/12/06 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.