2011 Q3 Form 10-Q Financial Statement

#000110465911061896 Filed on November 08, 2011

View on sec.gov

Income Statement

Concept 2011 Q3 2010 Q4 2010 Q3
Revenue $10.30M $10.44M $10.47M
YoY Change -1.62% 7.63% 10.75%
Cost Of Revenue $690.0K $780.0K $400.0K
YoY Change 72.5% 310.53% 135.29%
Gross Profit $8.690M $9.660M $10.07M
YoY Change -13.7% 1.58% 8.51%
Gross Profit Margin 84.4% 92.53% 96.22%
Selling, General & Admin $1.740M $1.610M $1.620M
YoY Change 7.41% -3.01% -5.81%
% of Gross Profit 20.02% 16.67% 16.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.430M $2.160M $2.210M
YoY Change 9.95% -0.92% 0.45%
% of Gross Profit 27.96% 22.36% 21.95%
Operating Expenses $5.056M $3.950M $4.397M
YoY Change 14.99% 5.05% 15.1%
Operating Profit $3.634M $5.710M $6.069M
YoY Change -40.12% -0.7% 11.15%
Interest Expense $3.150M -$4.020M $3.658M
YoY Change -13.89% 21.82% -207.59%
% of Operating Profit 86.68% -70.4% 60.27%
Other Income/Expense, Net $10.00K $40.00K $40.00K
YoY Change -75.0% -42.86% -55.56%
Pretax Income $2.330M $1.460M $2.390M
YoY Change -2.51% -57.18% 11.16%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings $2.765M $1.640M $2.850M
YoY Change -2.98% -82.0% -17.15%
Net Earnings / Revenue 26.86% 15.71% 27.23%
Basic Earnings Per Share $0.19
Diluted Earnings Per Share $0.19 $141.0K $254.5K
COMMON SHARES
Basic Shares Outstanding 14.14M shares 11.16M shares
Diluted Shares Outstanding 14.14M shares 11.20M shares

Balance Sheet

Concept 2011 Q3 2010 Q4 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.400M $7.700M $7.800M
YoY Change 7.69% -72.5% -26.42%
Cash & Equivalents $8.430M $7.732M $7.800M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $12.20M $11.10M $11.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $20.60M $18.80M $19.60M
YoY Change 5.1% -51.3% -5.77%
LONG-TERM ASSETS
Property, Plant & Equipment $409.0M $391.8M $376.7M
YoY Change 8.57% 14.58% 8.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.700M $5.500M $5.600M
YoY Change 1.79% -57.03% -63.4%
Other Assets $5.100M $6.900M $7.400M
YoY Change -31.08% 60.47% 23.33%
Total Long-Term Assets $431.3M $425.8M $397.3M
YoY Change 8.56% 15.06% -0.7%
TOTAL ASSETS
Total Short-Term Assets $20.60M $18.80M $19.60M
Total Long-Term Assets $431.3M $425.8M $397.3M
Total Assets $451.9M $444.6M $416.9M
YoY Change 8.4% 8.79% -0.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $5.400M $5.100M $4.600M
YoY Change 17.39% 34.21% 12.2%
Deferred Revenue
YoY Change
Short-Term Debt $20.00M $36.20M $27.80M
YoY Change -28.06% 34.07% 2.96%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.20M $45.10M $35.80M
YoY Change -15.64% 35.44% 14.38%
LONG-TERM LIABILITIES
Long-Term Debt $197.8M $215.3M $196.2M
YoY Change 0.82% 13.02% -7.19%
Other Long-Term Liabilities $5.300M $5.000M $4.900M
YoY Change 8.16% 4.17% 0.0%
Total Long-Term Liabilities $203.1M $220.3M $201.1M
YoY Change 0.99% 12.8% -7.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.20M $45.10M $35.80M
Total Long-Term Liabilities $203.1M $220.3M $201.1M
Total Liabilities $233.2M $265.4M $236.9M
YoY Change -1.55% 16.12% -4.32%
SHAREHOLDERS EQUITY
Retained Earnings $20.97M
YoY Change
Common Stock $158.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $218.7M $179.2M $180.0M
YoY Change
Total Liabilities & Shareholders Equity $451.9M $444.6M $416.9M
YoY Change 8.4% 8.79% -0.95%

Cashflow Statement

Concept 2011 Q3 2010 Q4 2010 Q3
OPERATING ACTIVITIES
Net Income $2.765M $1.640M $2.850M
YoY Change -2.98% -82.0% -17.15%
Depreciation, Depletion And Amortization $2.430M $2.160M $2.210M
YoY Change 9.95% -0.92% 0.45%
Cash From Operating Activities $6.150M $5.950M $4.110M
YoY Change 49.64% 25.53% -22.89%
INVESTING ACTIVITIES
Capital Expenditures -$20.28M -$14.79M -$8.020M
YoY Change 152.87% 16333.33% 13266.67%
Acquisitions
YoY Change
Other Investing Activities $30.00K -$240.0K $5.270M
YoY Change -99.43% -100.97% -177.5%
Cash From Investing Activities -$20.24M -$15.02M -$2.760M
YoY Change 633.33% -160.83% -59.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.08M 9.010M -12.03M
YoY Change -192.1% -174.9% 98.84%
NET CHANGE
Cash From Operating Activities 6.150M 5.950M 4.110M
Cash From Investing Activities -20.24M -15.02M -2.760M
Cash From Financing Activities 11.08M 9.010M -12.03M
Net Change In Cash -3.010M -60.00K -10.68M
YoY Change -71.82% -100.34% 40.9%
FREE CASH FLOW
Cash From Operating Activities $6.150M $5.950M $4.110M
Capital Expenditures -$20.28M -$14.79M -$8.020M
Free Cash Flow $26.43M $20.74M $12.13M
YoY Change 117.89% 329.4% 125.05%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
olp Payments Of Amortization Of Mortgages Payable
PaymentsOfAmortizationOfMortgagesPayable
4090000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6345000 USD
olp Prepaid Leasehold Improvments
PrepaidLeaseholdImprovments
1750000 USD
olp Distributions Of Capital From Unconsolidated Joint Ventures
DistributionsOfCapitalFromUnconsolidatedJointVentures
953000 USD
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
150000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
4137000 USD
olp Noncash Allocation Of Intangible Lease Assets
NoncashAllocationOfIntangibleLeaseAssets
1078000 USD
CY2011Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2010Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11212000 shares
CY2010Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11212000 shares
CY2010Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2010Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2010Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2010Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
CY2010Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2010Q4 olp Assets Related To Property Held For Sale
AssetsRelatedToPropertyHeldForSale
808000 USD
CY2011Q3 us-gaap Liabilities
Liabilities
233226000 USD
CY2011Q3 us-gaap Assets
Assets
451902000 USD
CY2011Q3 us-gaap Stockholders Equity
StockholdersEquity
218676000 USD
us-gaap Loans Assumed1
LoansAssumed1
17654000 USD
us-gaap Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
2209000 USD
us-gaap Interest Paid
InterestPaid
10654000 USD
CY2010Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
444623000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
179183000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20969000 USD
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-156000 USD
CY2010Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
147158000 USD
CY2010Q4 us-gaap Common Stock Value
CommonStockValue
11212000 USD
CY2010Q4 us-gaap Liabilities
Liabilities
265440000 USD
CY2010Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
4982000 USD
CY2010Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5144000 USD
CY2010Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3806000 USD
CY2010Q4 us-gaap Line Of Credit
LineOfCredit
36200000 USD
CY2010Q4 us-gaap Secured Debt
SecuredDebt
215308000 USD
CY2010Q4 us-gaap Assets
Assets
444623000 USD
CY2010Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2265000 USD
CY2010Q4 olp Investment In Related Party
InvestmentInRelatedParty
266000 USD
CY2010Q4 olp Escrow Deposits And Other Assets And Receivables
EscrowDepositsAndOtherAssetsAndReceivables
4684000 USD
CY2010Q4 olp Unamortized Intangible Lease Assets
UnamortizedIntangibleLeaseAssets
10887000 USD
CY2010Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
11149000 USD
CY2010Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
422000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7732000 USD
CY2010Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
4777000 USD
CY2010Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
10678000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
391763000 USD
CY2010Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
54137000 USD
CY2010Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
445900000 USD
CY2010Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
319203000 USD
CY2010Q4 us-gaap Land
Land
126697000 USD
CY2011Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14146000 shares
CY2011Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14146000 shares
CY2011Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2011Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2011Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1341000 USD
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1716000 USD
CY2010Q3 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
447000 USD
CY2011Q3 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
572000 USD
CY2010Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11197000 shares
CY2010Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11160000 shares
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
698000 USD
olp Noncash Allocation Of Intangible Lease Liability
NoncashAllocationOfIntangibleLeaseLiability
357000 USD
CY2010Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7800000 USD
CY2009Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28036000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-20236000 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
104000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7119000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1022000 USD
olp Issuance Of Shares Through Dividend Reinvestment Plan
IssuanceOfSharesThroughDividendReinvestmentPlan
426000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
15500000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
16300000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
3000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
10687000 USD
CY2010Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
160000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
23964000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
397000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
1198000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
452000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6497000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
530000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
354000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
107000 USD
olp Amortization Of Restricted Stock Expense
AmortizationOfRestrictedStockExpense
673000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17000 USD
us-gaap Allowance For Loan And Lease Losses Provision For Loss Net
AllowanceForLoanAndLeaseLossesProvisionForLossNet
-93000 USD
us-gaap Increase Decrease In Deferred Rent Receivables
IncreaseDecreaseInDeferredRentReceivables
1292000 USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
149000 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
235000 USD
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8430000 USD
CY2010Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
235000 USD
CY2010Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
219000 USD
CY2010Q3 us-gaap Interest Expense
InterestExpense
3658000 USD
CY2010Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
40000 USD
CY2010Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
101000 USD
CY2010Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
6069000 USD
CY2010Q3 us-gaap Operating Expenses
OperatingExpenses
4397000 USD
CY2010Q3 olp Leasehold Rent
LeaseholdRent
77000 USD
CY2010Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
396000 USD
CY2010Q3 olp Costs Of Acquiring Real Estate
CostsOfAcquiringRealEstate
224000 USD
CY2010Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1545000 USD
CY2010Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2155000 USD
CY2010Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
10466000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11140000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11108000 shares
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
705000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
452000 USD
olp Leasehold Rent
LeaseholdRent
231000 USD
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
5056000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
265000 USD
us-gaap Nature Of Operations
NatureOfOperations
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note 1 - <u>Organization and Background</u></font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">One Liberty Properties, Inc. (&#147;OLP&#148;) was incorporated in 1982 in Maryland.&nbsp; OLP is a self-administered and self-managed real estate investment trust (&#147;REIT&#148;).&nbsp; OLP acquires, owns and manages a geographically diversified portfolio of retail (including furniture and office supply stores), industrial, office, flex, health and fitness and other properties, a substantial portion of which are under long-term net leases.&nbsp; As of September 30, 2011, OLP owned 88 properties, two of which are vacant and one of which is a 50% tenancy in common interest.&nbsp; OLP&#146;s joint ventures owned a total of five properties. The 93 properties are located in 29 states.</font></p></td></tr></table>
CY2011Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14561778 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2011-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000712770
dei Entity Registrant Name
EntityRegistrantName
ONE LIBERTY PROPERTIES INC
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
us-gaap Interest Expense
InterestExpense
10639000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
17090000 USD
us-gaap Operating Expenses
OperatingExpenses
13456000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
1362000 USD
olp Costs Of Acquiring Real Estate
CostsOfAcquiringRealEstate
738000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4811000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
6314000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
30546000 USD
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-287000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
282000 USD
CY2010 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.23
CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-60000 USD
CY2010 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
915000 USD
CY2010 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1200000 USD
CY2010 olp Stock Dividend Obligation
StockDividendObligation
2104000 USD
CY2010 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14123000 USD
olp Other Comprehensive Income Unrealized Gain Loss On Derivatives Related To Joint Venture Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesRelatedToJointVentureArisingDuringPeriodNetOfTax
-177000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-724000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-108000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
770000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
2807000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
40569000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14283000 USD
olp Compensation And Service Agreement Textblock
CompensationAndServiceAgreementTextblock
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note 10 - <u>Compensation and Services Agreement</u></font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">On September 13, 2011, the independent members of the Company&#146;s Board of Directors authorized a $500,000 increase (effective January 1, 2011) from $2,400,000 to $2,900,000 in the compensation and services agreement with Majestic Property Management Corp.&nbsp; In June 2011, a compensation consultant was engaged to prepare a &#147;Compensation and Total Costs Analysis&#148; report.&nbsp; The results of this report were utilized to evaluate the $500,000 increase.</font></p></td></tr></table>

Files In Submission

Name View Source Status
0001104659-11-061896-index-headers.html Edgar Link pending
0001104659-11-061896-index.html Edgar Link pending
0001104659-11-061896.txt Edgar Link pending
0001104659-11-061896-xbrl.zip Edgar Link pending
a11-25899_110q.htm Edgar Link pending
a11-25899_1ex31d1.htm Edgar Link pending
a11-25899_1ex31d2.htm Edgar Link pending
a11-25899_1ex32d1.htm Edgar Link pending
a11-25899_1ex32d2.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
olp-20110930.xml Edgar Link completed
olp-20110930.xsd Edgar Link pending
olp-20110930_cal.xml Edgar Link unprocessable
olp-20110930_def.xml Edgar Link unprocessable
olp-20110930_lab.xml Edgar Link unprocessable
olp-20110930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending