2018 Q4 Form 10-K Financial Statement

#000110465920033752 Filed on March 16, 2020

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $20.27M $19.57M $19.75M
YoY Change 1.91% 2.25% 7.29%
Cost Of Revenue $3.600M $2.650M $2.590M
YoY Change 7.14% -4.68% -0.38%
Gross Profit $16.67M $16.92M $17.16M
YoY Change 0.79% 3.42% 8.47%
Gross Profit Margin 82.24% 86.46% 86.88%
Selling, General & Admin $3.020M $3.150M $3.120M
YoY Change 5.23% 13.31% 5.05%
% of Gross Profit 18.12% 18.62% 18.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.060M $5.670M $5.250M
YoY Change 57.12% 10.74% 1.16%
% of Gross Profit 48.35% 33.51% 30.59%
Operating Expenses $11.07M $11.47M $8.380M
YoY Change 42.47% 45.2% 2.7%
Operating Profit $5.600M $12.68M $8.780M
YoY Change -36.15% 49.93% 14.62%
Interest Expense -$4.400M $4.448M -$4.250M
YoY Change 1.62% -198.63% -6.59%
% of Operating Profit -78.57% 35.07% -48.41%
Other Income/Expense, Net $700.0K $10.00K $10.00K
YoY Change -468.42% -83.33% -96.88%
Pretax Income $180.0K $10.18M $4.550M
YoY Change -95.75% 42.78% -54.45%
Income Tax
% Of Pretax Income
Net Earnings $150.0K $10.15M $4.517M
YoY Change -96.44% 42.71% -54.69%
Net Earnings / Revenue 0.74% 51.85% 22.87%
Basic Earnings Per Share -$0.01 $0.53 $0.23
Diluted Earnings Per Share -$0.01 $0.52 $0.23
COMMON SHARES
Basic Shares Outstanding 18.73M 18.65M 18.52M
Diluted Shares Outstanding 18.75M 18.71M 18.59M

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.20M $17.20M $12.90M
YoY Change 10.14% 15.44% -10.42%
Cash & Equivalents $15.20M $17.17M $12.90M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $13.70M $13.40M $14.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.90M $30.60M $27.50M
YoY Change 3.58% 6.62% -2.14%
LONG-TERM ASSETS
Property, Plant & Equipment $705.5M $663.7M $676.6M
YoY Change 5.87% 0.59% 2.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.90M $10.30M $11.20M
YoY Change 1.87% -2.83% 3.7%
Other Assets $9.100M $11.60M $8.600M
YoY Change 28.17% 75.76% -52.22%
Total Long-Term Assets $752.0M $711.8M $724.4M
YoY Change 5.22% 0.41% 0.12%
TOTAL ASSETS
Total Short-Term Assets $28.90M $30.60M $27.50M
Total Long-Term Assets $752.0M $711.8M $724.4M
Total Assets $780.9M $742.4M $751.9M
YoY Change 5.16% 0.65% 0.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $11.10M $8.000M $13.50M
YoY Change -31.06% -32.77% 23.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.80M $16.70M $22.20M
YoY Change -19.51% -16.5% 18.09%
LONG-TERM LIABILITIES
Long-Term Debt $448.5M $403.0M $411.4M
YoY Change 11.59% 0.05% -2.28%
Other Long-Term Liabilities $14.00M $15.30M $16.60M
YoY Change -20.45% -15.0% -9.78%
Total Long-Term Liabilities $462.5M $418.3M $428.0M
YoY Change 10.25% -0.59% -2.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.80M $16.70M $22.20M
Total Long-Term Liabilities $462.5M $418.3M $428.0M
Total Liabilities $482.3M $436.4M $451.6M
YoY Change 8.61% -1.36% -1.83%
SHAREHOLDERS EQUITY
Retained Earnings -$10.73M
YoY Change
Common Stock $306.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $297.1M $306.1M $300.3M
YoY Change
Total Liabilities & Shareholders Equity $780.9M $742.4M $751.9M
YoY Change 5.16% 0.65% 0.04%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $150.0K $10.15M $4.517M
YoY Change -96.44% 42.71% -54.69%
Depreciation, Depletion And Amortization $8.060M $5.670M $5.250M
YoY Change 57.12% 10.74% 1.16%
Cash From Operating Activities $13.02M $10.83M $8.860M
YoY Change -8.89% 9.62% -14.89%
INVESTING ACTIVITIES
Capital Expenditures -$62.32M -$840.0K -$6.310M
YoY Change 405.02% -50.0% -82.31%
Acquisitions
YoY Change
Other Investing Activities $9.670M $9.310M $0.00
YoY Change 325.99% -38.26% -100.0%
Cash From Investing Activities -$52.65M $8.480M -$6.320M
YoY Change 422.84% -36.67% -76.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 38.56M -15.24M -3.320M
YoY Change -801.09% -33.07% -119.39%
NET CHANGE
Cash From Operating Activities 13.02M 10.83M 8.860M
Cash From Investing Activities -52.65M 8.480M -6.320M
Cash From Financing Activities 38.56M -15.24M -3.320M
Net Change In Cash -1.070M 4.070M -780.0K
YoY Change -16.41% 714.0% -172.9%
FREE CASH FLOW
Cash From Operating Activities $13.02M $10.83M $8.860M
Capital Expenditures -$62.32M -$840.0K -$6.310M
Free Cash Flow $75.34M $11.67M $15.17M
YoY Change 182.91% 0.95% -67.08%

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CY2017 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2017 us-gaap Amortization Of Financing Costs
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PaymentsToBrokersForCommissionsClassifiedAsOperatingActivities
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CY2018 olp Payments To Brokers For Commissions Classified As Operating Activities
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CY2018 us-gaap Increase Decrease In Operating Liabilities
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42646000
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852000
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357000
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CY2017 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
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CY2018 us-gaap Payments To Minority Shareholders
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CY2019 olp Non Cash Investing Activities Right Of Use Asset And Related Lease Liability
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5027000
CY2019 olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Assets
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4245000
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4435000
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NonCashInvestingActivitiesPurchaseAccountingAllocationIntangibleLeaseAssets
4009000
CY2019 olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Liabilities
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-915000
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 olp Restricted Cash And Cash Equivalents Excluding Restricted Cash Included In Escrow Deposits And Other Assets And Receivables
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RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables
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RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
291000
CY2019 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman';font-size:10pt;font-weight:bold;margin:0pt 0pt 6pt 0pt;">NOTE 1—ORGANIZATION AND BACKGROUND</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt;">One Liberty Properties, Inc. (“OLP”) was incorporated in 1982 in Maryland. OLP is a self-administered and self-managed real estate investment trust. OLP acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness, and theater properties, many of which are subject to long-term net leases. As of December 31, 2019, OLP owns 126 properties, including four properties owned by consolidated joint ventures and four properties owned by unconsolidated joint ventures. The 126 properties are located in 31states.</p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p>
CY2019Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
126
CY2019Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
126
CY2019Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
31
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 6pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 6pt 0pt;">The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">Management believes that the estimates and assumptions that are most important to the portrayal of the Company’s consolidated financial condition and results of operations, in that they require management’s most difficult, subjective or complex judgments, form the basis of the accounting policies deemed to be most significant to the Company. These significant accounting policies relate to revenues and the value of the Company’s real estate portfolio, including investments in unconsolidated joint ventures. Management believes its estimates and assumptions related to these significant accounting policies are appropriate under the circumstances; however, should future events or occurrences result in unanticipated consequences, there could be a material impact on the Company’s future consolidated financial condition or results of operations.</span></p>
CY2019Q4 olp Real Estate Taxes Insurance And Other Escrows
RealEstateTaxesInsuranceAndOtherEscrows
934000
CY2018Q4 olp Real Estate Taxes Insurance And Other Escrows
RealEstateTaxesInsuranceAndOtherEscrows
423000
CY2019 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22026000
CY2018 us-gaap Depreciation And Amortization
DepreciationAndAmortization
24155000
CY2017 us-gaap Depreciation And Amortization
DepreciationAndAmortization
20993000
CY2019Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
3799000
CY2018Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
3246000
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 6pt 0pt;">Reclassifications</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain amounts previously reported in the consolidated financial statements have been reclassified in the accompanying consolidated financial statements to conform to the current year’s presentation. Such reclassifications primarily relate to the presentation on the consolidated statement of income for the years ended 2018 and 2017 of (i) rental income, net, due to the adoption of a new lease accounting pronouncement (see Note 3), (ii) leasehold rent being included as part of Real estate expenses and (iii) prepayment costs on debt being presented separately from mortgage interest expense.</p>
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 6pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 6pt 0pt;">The Company maintains cash accounts at various financial institutions. While the Company attempts to limit any financial exposure, substantially all of its deposit balances exceed federally insured limits. The Company has not experienced any losses on such accounts.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 6pt 0pt;">The Company’s properties are located in 31 states. During 2019, 2018 and 2017, 9.2%, 9.3% and 13.2% of total revenues, respectively, were attributable to real estate investments located in Texas which is the only state in which real estate investments contributed more than 10% to the Company’s total revenues in any of the past three years.</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:18pt;margin:0pt 0pt 11pt 0pt;">No tenant contributed over 10% to the Company’s total revenues during 2019, 2018 and 2017.</p>
CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
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684000
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true
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true
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OperatingLeaseLeaseIncomeLeasePayments
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CY2019 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
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OperatingLeaseVariableLeaseIncome
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11594000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
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-1849000
CY2017 us-gaap Amortization Of Above And Below Market Leases
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-897000
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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47644000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
208923000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
511791000
CY2019Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
15037000
CY2018Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
13722000
CY2019 olp Deferred Rent Receivable Period During Which Amount Of Rent To Be Billed And Received
DeferredRentReceivablePeriodDuringWhichAmountOfRentToBeBilledAndReceived
P16Y
CY2019 olp Straight Line Rent Receivable Written Off Relating To Property Sold
StraightLineRentReceivableWrittenOffRelatingToPropertySold
182000
CY2018 olp Straight Line Rent Receivable Written Off Relating To Property Sold
StraightLineRentReceivableWrittenOffRelatingToPropertySold
45000
CY2017 olp Straight Line Rent Receivable Written Off Relating To Property Sold
StraightLineRentReceivableWrittenOffRelatingToPropertySold
105000
CY2019Q4 olp Deferred Rent Payables
DeferredRentPayables
662000
CY2018Q4 olp Deferred Rent Payables
DeferredRentPayables
0
CY2019 olp Deferred Rent Payables Period During Which Amount Of Rent To Be Billed And Payables
DeferredRentPayablesPeriodDuringWhichAmountOfRentToBeBilledAndPayables
P22Y
CY2019 olp Straight Line Rent Receivable Written Off Relating To Tenant Filing Bankruptcy Or Going Concern Issues
StraightLineRentReceivableWrittenOffRelatingToTenantFilingBankruptcyOrGoingConcernIssues
548000
CY2018 olp Straight Line Rent Receivable Written Off Relating To Tenant Filing Bankruptcy Or Going Concern Issues
StraightLineRentReceivableWrittenOffRelatingToTenantFilingBankruptcyOrGoingConcernIssues
1440000
CY2017 olp Straight Line Rent Receivable Written Off Relating To Tenant Filing Bankruptcy Or Going Concern Issues
StraightLineRentReceivableWrittenOffRelatingToTenantFilingBankruptcyOrGoingConcernIssues
362000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
510000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
511000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
506000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
507000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
557000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3741000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6332000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1529000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4803000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
454000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
127000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
47000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
628000
CY2019 olp Payments To Acquire Real Estate Excluding Acquisition Costs
PaymentsToAcquireRealEstateExcludingAcquisitionCosts
49250000
CY2019Q4 olp Real Estate Acquisition Cost Capitalized
RealEstateAcquisitionCostCapitalized
637000
CY2018 olp Payments To Acquire Real Estate Excluding Acquisition Costs
PaymentsToAcquireRealEstateExcludingAcquisitionCosts
79503000
CY2018Q4 olp Real Estate Acquisition Cost Capitalized
RealEstateAcquisitionCostCapitalized
787000
CY2019 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
50310000
CY2018 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
15563000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
7461000
CY2019Q4 olp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
39096000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
4245000
CY2019Q4 olp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Lease Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleLeaseLiability
915000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
49887000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
11318000
CY2018Q4 olp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
67044000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
4435000
CY2018Q4 olp Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Lease Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleLeaseLiability
2507000
CY2018Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
80290000
CY2019 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P7Y7M6D
CY2019 olp Acquired Finite Lived Intangible Liabilities Weighted Average Amortization Period
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageAmortizationPeriod
P9Y9M18D
CY2018 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P6Y9M18D
CY2018 olp Acquired Finite Lived Intangible Liabilities Weighted Average Amortization Period
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageAmortizationPeriod
P11Y4M24D
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19904000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16503000
CY2019Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7502000
CY2018Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7378000
CY2019 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-914000
CY2018 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1849000
CY2017 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-897000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4039000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7175000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4984000
CY2018 olp Write Off Of Tenant Origination Costs
WriteOffOfTenantOriginationCosts
2743000
CY2017 olp Write Off Of Tenant Origination Costs
WriteOffOfTenantOriginationCosts
884000
olp Number Of Leased Properties With Tenants In Bankruptcy
NumberOfLeasedPropertiesWithTenantsInBankruptcy
4
CY2019 olp Gross Proceeds From Sale Of Real Estate
GrossProceedsFromSaleOfRealEstate
41891000
CY2019 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
4327000
CY2018 olp Gross Proceeds From Sale Of Real Estate
GrossProceedsFromSaleOfRealEstate
27659000
CY2018 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
5262000
CY2017 olp Gross Proceeds From Sale Of Real Estate
GrossProceedsFromSaleOfRealEstate
27050000
CY2017 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
9837000
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
13000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2019 us-gaap Profit Loss
ProfitLoss
18544000
CY2018 us-gaap Profit Loss
ProfitLoss
21564000
CY2017 us-gaap Profit Loss
ProfitLoss
24249000
CY2019 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
533000
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
899000
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
102000
CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1227000
CY2018 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1173000
CY2017 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1072000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16784000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19492000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23075000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19090000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18575000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17944000
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
29000
CY2018 olp Common Stock Dividends Cash Paid Capital Gain Percentage
CommonStockDividendsCashPaidCapitalGainPercentage
0.12
CY2017 olp Common Stock Dividends Cash Paid Capital Gain Percentage
CommonStockDividendsCashPaidCapitalGainPercentage
0.17
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
103000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19119000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18588000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18047000
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.05
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.05
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.28
CY2019 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.80
CY2018 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.80
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.74
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
9037000
CY2019 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
220000
CY2018 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
243000
CY2017 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
198000
CY2019 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
180120
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5392000
CY2019 olp Payment Of Commissions On Sale Of Shares
PaymentOfCommissionsOnSaleOfShares
54000
CY2019 olp Payment Of Offering Costs On Sale Of Shares
PaymentOfOfferingCostsOnSaleOfShares
192000
CY2018 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
126300
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3245000
CY2018 olp Payment Of Commissions On Sale Of Shares
PaymentOfCommissionsOnSaleOfShares
33000
CY2018 olp Payment Of Offering Costs On Sale Of Shares
PaymentOfOfferingCostsOnSaleOfShares
107000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
463867
CY2019 olp Percentage Of Distributions Representing Return Of Capital To Shareholders
PercentageOfDistributionsRepresentingReturnOfCapitalToShareholders
0.27
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2019 olp Dividends Declared Reconciliation
DividendsDeclaredReconciliation
35663000
CY2018 olp Dividends Declared Reconciliation
DividendsDeclaredReconciliation
34652000
CY2017 olp Dividends Declared Reconciliation
DividendsDeclaredReconciliation
32393000
CY2019 olp Dividend Reinvestment Plan Common Stock Discount On Shares
DividendReinvestmentPlanCommonStockDiscountOnShares
247000
CY2018 olp Dividend Reinvestment Plan Common Stock Discount On Shares
DividendReinvestmentPlanCommonStockDiscountOnShares
313000
CY2017 olp Dividend Reinvestment Plan Common Stock Discount On Shares
DividendReinvestmentPlanCommonStockDiscountOnShares
252000
CY2019 olp Dividends Before Adjustments For Previous And Current Year
DividendsBeforeAdjustmentsForPreviousAndCurrentYear
35910000
CY2018 olp Dividends Before Adjustments For Previous And Current Year
DividendsBeforeAdjustmentsForPreviousAndCurrentYear
34965000
CY2017 olp Dividends Before Adjustments For Previous And Current Year
DividendsBeforeAdjustmentsForPreviousAndCurrentYear
32645000
CY2018 olp Dividends Designated To Previous Year
DividendsDesignatedToPreviousYear
10263000
CY2017 olp Dividends Designated To Previous Year
DividendsDesignatedToPreviousYear
11916000
CY2019 olp Dividends Designated To Following Year
DividendsDesignatedToFollowingYear
8976000
CY2018 olp Dividends Designated To Following Year
DividendsDesignatedToFollowingYear
549000
CY2019 olp Return Of Capital
ReturnOfCapital
9828000
CY2019 olp Dividends Designated From Prior Year
DividendsDesignatedFromPriorYear
549000
CY2017 olp Dividends Designated From Following Year
DividendsDesignatedFromFollowingYear
10263000
CY2019 olp Dividend Paid Deduction From Taxable Income
DividendPaidDeductionFromTaxableIncome
17655000
CY2018 olp Dividend Paid Deduction From Taxable Income
DividendPaidDeductionFromTaxableIncome
24153000
CY2017 olp Dividend Paid Deduction From Taxable Income
DividendPaidDeductionFromTaxableIncome
30992000
CY2019Q1 us-gaap Revenues
Revenues
21155000
CY2019Q2 us-gaap Revenues
Revenues
20719000
CY2019Q3 us-gaap Revenues
Revenues
20414000
CY2019Q4 us-gaap Revenues
Revenues
22448000
CY2019 us-gaap Revenues
Revenues
84736000
CY2019Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1099000
CY2019Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
2544000
CY2019Q4 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
684000
CY2019 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4327000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
4011000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
4558000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
5097000
CY2019Q4 us-gaap Profit Loss
ProfitLoss
4878000
CY2019 us-gaap Profit Loss
ProfitLoss
18544000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
3971000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
4112000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
5118000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
4810000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
18011000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18894000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19023000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19191000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19090000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18993000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19129000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19239000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19266000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19119000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2018Q1 us-gaap Revenues
Revenues
19534000
CY2018Q2 us-gaap Revenues
Revenues
19752000
CY2018Q3 us-gaap Revenues
Revenues
19570000
CY2018Q4 us-gaap Revenues
Revenues
20270000
CY2018 us-gaap Revenues
Revenues
79126000
CY2018Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
2408000
CY2018Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4585000
CY2018Q4 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-1731000
CY2018 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
5262000
CY2018Q1 us-gaap Profit Loss
ProfitLoss
6653000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
4546000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
10182000
CY2018Q4 us-gaap Profit Loss
ProfitLoss
183000
CY2018 us-gaap Profit Loss
ProfitLoss
21564000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
5851000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
4517000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
10147000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
150000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
20665000
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18396000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18519000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18646000
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18733000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18575000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18434000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18593000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18705000
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18748000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18588000
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.05
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2019Q4 olp Real Estate Federal Income Tax Basis Difference Amount
RealEstateFederalIncomeTaxBasisDifferenceAmount
16861000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
829143000
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
775327000
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
748065000
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.05
CY2019Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
440278000
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
195320000
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
602532000
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
37985000
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
195320000
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
640517000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
835837000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
135302000
CY2019 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
49669000
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
86117000
CY2017 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
47207000
CY2019 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
42975000
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
32301000
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
19792000
CY2017 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
153000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
835837000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
829143000
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
775327000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
123684000
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
108953000
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
96852000
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
17534000
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
16615000
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
15689000
CY2019 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
5916000
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
1884000
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
3588000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
135302000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
123684000
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
108953000

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