Eye Catching Stock: One Liberty Properties, Inc. (NYSE: OLP)

One Liberty Properties, Inc. (NYSE: OLP) stock observed trading -8.40% off 52-week high price. On the other end, the stock has been noted 26.46% away from low price over the last 52-weeks. The stock disclosed a move of -0.32% away from 50 day moving average and 5.78% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.41% off 20-day moving average. It has market cap of $574.92M and dividend yield of 6.18%.

One Liberty Properties, Inc. (NYSE: OLP), declared that it acquired two industrial properties for an aggregate purchase price of $15 million and sold a Kmart property.

Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty commented, “We now own over 6.8 million square feet of industrial properties in well-located markets throughout the United States. While the market for industrial properties remains highly competitive, we have remained disciplined and methodical in our approach. By being selective, we believe we have improved the quality of the portfolio and the cash flow over the past few years. With a growing pipeline of opportunities, we continue to evaluate additional properties to potentially add to our portfolio.”

On June 18, 2019, One Liberty acquired an 85,000 square foot industrial property on 4.2 acres located in Bensalem, Pennsylvania, a suburb of Philadelphia, for $6.2 million.  The 24-foot clear, concrete tilt wall industrial building, is net leased to Tinicum Mechanical Supply, Inc., d/b/a Betz Mechanical and Industrial Supply, a plumbing supply company, and Philly Motors and Drivers, the exclusive franchisee in the Philadelphia area of ABB Group, a distributor of electric motors and transmission products.  Tinicum leases approximately 61,000 square feet through 2023 and Philly Motors leases approximately 22,000 square feet through 2024. The current aggregate annual base rent including cell tower revenue is $420,000, with annual increases ranging from 2.7% to 3.0%.

On June 26, 2019, One Liberty acquired a 62,000 square foot Class A industrial facility on 3.5 acres located in Chandler, Arizona, a suburb of Phoenix, for $8.7 million.  The concrete tilt wall building was constructed for Floratech in 2005, and features 30-foot clear ceilings, four dock doors and two drive-in doors.  The property is net leased to Floratech, a manufacturer of raw materials used in cosmetic and skin care products.   The mission critical facility is used for warehouse, research and development in addition to serving as Floratech’s headquarters.  The property is leased through 2029 at an annual base rent of $581,000 with annual increases of 2.0%.

On June 20, 2019, One Liberty sold a Kmart property located in Clemmons, North Carolina, for $5.3 million, net of closing costs. The Company anticipates that its share of the gain from this sale, which will be recognized in the three and six months ending June 30, 2019, after giving effect to the non-controlling partner’s approximate $420,000 share of the gain, will be approximately $675,000.  This property accounted for $361,000 of revenues during the six months ended June 30, 2018.

The USA based company One Liberty Properties moved with change of 0.52% to $29.11 with the total traded volume of 48041 shares in recent session versus to an average volume of 45.81K. The stock was observed in the 5 days activity at -0.85%. The one month performance of stock was 1.50%. OLP’s shares are at 2.72% for the quarter and driving a 10.22% return over the course of the past year and is now at 20.19% since this point in 2018.  Right now the stock beta is 0.79. The average volatility for the week and month was at 2.30% and 2.09% respectively. There are 19.75M shares outstanding and 17.37M shares are floated in market.

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