$OLP
ONE LIBERTY PROPERTIES INC

2023 Q4 Form 10-Q Financial Statement

#000155837023017766 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $22.74M $22.55M
YoY Change -17.95% 5.0%
Cost Of Revenue $4.235M $4.015M
YoY Change 0.21% 3.48%
Gross Profit $18.51M $18.53M
YoY Change -21.21% 5.33%
Gross Profit Margin 81.38% 82.19%
Selling, General & Admin $3.876M $3.986M
YoY Change 0.05% 1.71%
% of Gross Profit 20.94% 21.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.220M $6.310M
YoY Change 2.59% 5.7%
% of Gross Profit 33.61% 34.05%
Operating Expenses $10.10M $14.31M
YoY Change 1.6% 3.94%
Operating Profit $8.410M $8.567M
YoY Change -37.94% -27.19%
Interest Expense -$5.273M $4.768M
YoY Change 13.37% 9.18%
% of Operating Profit -62.7% 55.66%
Other Income/Expense, Net $103.0K $87.00K
YoY Change 1616.67% 411.76%
Pretax Income $15.20M $2.769M
YoY Change 70.67% -61.65%
Income Tax
% Of Pretax Income
Net Earnings $14.96M $2.747M
YoY Change 68.43% -61.87%
Net Earnings / Revenue 65.79% 12.18%
Basic Earnings Per Share $0.71 $0.12
Diluted Earnings Per Share $0.71 $0.12
COMMON SHARES
Basic Shares Outstanding 21.07M 21.31M
Diluted Shares Outstanding 20.38M 20.60M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.43M $5.471M
YoY Change 293.42% -52.75%
Cash & Equivalents $26.43M $5.471M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $16.66M $17.24M
Other Receivables $0.00 $0.00
Total Short-Term Assets $43.09M $22.71M
YoY Change 89.02% -15.45%
LONG-TERM ASSETS
Property, Plant & Equipment $682.0M $701.0M
YoY Change -3.47% 1.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.051M $9.607M
YoY Change -80.28% -6.81%
Other Assets $19.83M $17.65M
YoY Change -16.54% 2.61%
Total Long-Term Assets $718.5M $745.1M
YoY Change -5.52% 0.62%
TOTAL ASSETS
Total Short-Term Assets $43.09M $22.71M
Total Long-Term Assets $718.5M $745.1M
Total Assets $761.6M $767.8M
YoY Change -2.76% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $15.50M $15.69M
YoY Change -19.55% -13.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.42M $25.58M
YoY Change -12.24% -8.08%
LONG-TERM LIABILITIES
Long-Term Debt $418.3M $428.6M
YoY Change -1.85% 3.61%
Other Long-Term Liabilities $10.10M $10.44M
YoY Change -9.25% -1.11%
Total Long-Term Liabilities $428.4M $439.1M
YoY Change -2.04% 3.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.42M $25.58M
Total Long-Term Liabilities $428.4M $439.1M
Total Liabilities $453.9M $464.7M
YoY Change -2.67% 2.78%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $346.7M $347.0M
YoY Change 0.13% 0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $306.7M $302.1M
YoY Change
Total Liabilities & Shareholders Equity $761.6M $767.8M
YoY Change -2.76% 0.06%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $14.96M $2.747M
YoY Change 68.43% -61.87%
Depreciation, Depletion And Amortization $6.220M $6.310M
YoY Change 2.59% 5.7%
Cash From Operating Activities $9.971M $11.15M
YoY Change 6.33% 1.1%
INVESTING ACTIVITIES
Capital Expenditures $979.0K $10.25M
YoY Change -92.09% -1027.03%
Acquisitions
YoY Change
Other Investing Activities $34.52M $3.125M
YoY Change -17536.36% -59.27%
Cash From Investing Activities $33.55M -$7.128M
YoY Change -366.82% -208.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.41M -6.801M
YoY Change 1424.35% -71.31%
NET CHANGE
Cash From Operating Activities 9.971M 11.15M
Cash From Investing Activities 33.55M -7.128M
Cash From Financing Activities -22.41M -6.801M
Net Change In Cash 21.11M -2.777M
YoY Change -552.48% -54.51%
FREE CASH FLOW
Cash From Operating Activities $9.971M $11.15M
Capital Expenditures $979.0K $10.25M
Free Cash Flow $8.992M $899.0K
YoY Change -400.03% -92.59%

Facts In Submission

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olp Gain Loss On Sale Of Property Cash Flow Impact
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olp Gain Loss On Sale Of Property Cash Flow Impact
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olp Payments To Brokers For Commissions Classified As Operating Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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olp Payments Of Amortization Of Mortgages Payable
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us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
12988000
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
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olp Non Cash Adjustments To Lease Liabilities Attributable To Reassessment Of Right Of Use Assets
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Assets
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Assets
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Mortgage Assets
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Liabilities
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Liabilities
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q3 olp Restricted Cash Included In Escrow Deposits And Other Assets And Receivables
RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables
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CY2022Q3 olp Restricted Cash Included In Escrow Deposits And Other Assets And Receivables
RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">NOTE 1 – ORGANIZATION AND BACKGROUND</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt;"><span style="white-space:pre-wrap;">One Liberty Properties, Inc. (“OLP”) was incorporated in 1982 in Maryland. OLP is a self-administered and self-managed real estate investment trust (“REIT”). OLP acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial and retail properties, many of which are subject to long-term net leases. As of September 30, 2023, OLP owns </span>118 properties, including three properties owned by consolidated joint ventures and three properties owned by unconsolidated joint ventures. The 118 properties are located in 31 states.</p>
CY2023Q3 us-gaap Number Of Real Estate Properties
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118
CY2023Q3 us-gaap Number Of Real Estate Properties
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118
CY2023Q3 us-gaap Number Of States In Which Entity Operates
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31
CY2023Q3 olp Unconsolidated Joint Venture Variable Interest Entity Number Of Entities
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0
CY2023Q3 olp Joint Venture Recourse Debt
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0
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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1039000
CY2023Q3 us-gaap Operating Lease Liability
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3386000
olp Operating Lease Lease Income Lease Payments Excluding Amortization Related To Lease Intangible Assets And Liabilities
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olp Operating Lease Lease Income Lease Payments Excluding Amortization Related To Lease Intangible Assets And Liabilities
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3431000
CY2022Q3 olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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2914000
olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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10048000
olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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8774000
CY2023Q3 olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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CY2022Q3 olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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us-gaap Amortization Of Above And Below Market Leases
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CY2022Q3 us-gaap Amortization Of Above And Below Market Leases
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us-gaap Amortization Of Above And Below Market Leases
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olp Write Off Of Unbilled Rent Receivable As Reduction Of Rental Income
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CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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61088000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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52581000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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41900000
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127000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
557000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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627000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
629000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
630000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1229000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4425000
CY2023Q3 us-gaap Profit Loss
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2769000
CY2022Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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14716000
us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2023Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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321000
CY2022Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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320000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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971000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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1134000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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2426000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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6884000
us-gaap Net Income Loss Available To Common Stockholders Basic
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13681000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
32160000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20567000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20340000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20552000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20361000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
29000
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
76000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
46000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
111000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20596000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20416000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20598000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20472000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.57
CY2023Q3 olp Incremental Common Shares Attributable To Share Based Payment Arrangements Underlying Shares
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsUnderlyingShares
251300
olp Incremental Common Shares Attributable To Share Based Payment Arrangements Underlying Shares
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsUnderlyingShares
251300
CY2023Q3 olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Return On Capital Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric
98994
olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Return On Capital Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric
98994
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
98994
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
98994
CY2023Q3 olp Common Shares Not Included Attributable To Share Based Payment Arrangements Due To Applicable Metrics
CommonSharesNotIncludedAttributableToShareBasedPaymentArrangementsDueToApplicableMetrics
152306
olp Common Shares Not Included Attributable To Share Based Payment Arrangements Due To Applicable Metrics
CommonSharesNotIncludedAttributableToShareBasedPaymentArrangementsDueToApplicableMetrics
152306
olp Incremental Common Shares Attributable To Share Based Payment Arrangements Underlying Shares
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsUnderlyingShares
241076
CY2022Q3 olp Incremental Common Shares Attributable To Share Based Payment Arrangements Underlying Shares
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsUnderlyingShares
241076
CY2022Q3 olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Return On Capital Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric
98073
olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Return On Capital Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToReturnOnCapitalMetric
98073
CY2022Q3 olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Stockholder Return Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToStockholderReturnMetric
37513
olp Incremental Common Shares Attributable To Share Based Payment Arrangements Due To Stockholder Return Metric
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsDueToStockholderReturnMetric
37513
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
135586
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
135586
olp Common Shares Not Included Attributable To Share Based Payment Arrangements Due To Applicable Metrics
CommonSharesNotIncludedAttributableToShareBasedPaymentArrangementsDueToApplicableMetrics
105490
CY2022Q3 olp Common Shares Not Included Attributable To Share Based Payment Arrangements Due To Applicable Metrics
CommonSharesNotIncludedAttributableToShareBasedPaymentArrangementsDueToApplicableMetrics
105490
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2023Q3 us-gaap Dividends Common Stock
DividendsCommonStock
9505000
CY2023Q4 olp Dividends Common Stock Cash Paid
DividendsCommonStockCashPaid
8072000
CY2023Q4 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
78000
olp Percentage Of Discount On Common Stock Purchased Through Dividend Reinvestment Plan
PercentageOfDiscountOnCommonStockPurchasedThroughDividendReinvestmentPlan
0.03
CY2023Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
56000
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
155000
CY2022Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
40000
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
51000
CY2023Q3 olp Derivative Number Of Mortgage Loans Outstanding
DerivativeNumberOfMortgageLoansOutstanding
16
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1005000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
5388000

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0001558370-23-017766.txt Edgar Link pending
0001558370-23-017766-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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olp-20230930x10q_htm.xml Edgar Link completed
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