$OLP
ONE LIBERTY PROPERTIES INC

2024 Q4 Form 10-Q Financial Statement

#000155837024014590 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $22.21M $22.55M
YoY Change -1.49% 5.0%
Cost Of Revenue $4.183M $4.015M
YoY Change 4.18% 3.48%
Gross Profit $18.03M $18.53M
YoY Change -2.71% 5.33%
Gross Profit Margin 81.17% 82.19%
Selling, General & Admin $4.008M $3.986M
YoY Change 0.55% 1.71%
% of Gross Profit 22.23% 21.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.133M $6.310M
YoY Change -2.81% 5.7%
% of Gross Profit 34.02% 34.05%
Operating Expenses $14.32M $14.31M
YoY Change 0.09% 3.94%
Operating Profit $10.00M $8.567M
YoY Change 16.75% -27.19%
Interest Expense -$5.166M $4.768M
YoY Change -208.35% 9.18%
% of Operating Profit -51.65% 55.66%
Other Income/Expense, Net $353.0K $87.00K
YoY Change 305.75% 411.76%
Pretax Income $5.189M $2.769M
YoY Change 87.4% -61.65%
Income Tax
% Of Pretax Income
Net Earnings $5.177M $2.747M
YoY Change 88.46% -61.87%
Net Earnings / Revenue 23.31% 12.18%
Basic Earnings Per Share $0.24 $0.12
Diluted Earnings Per Share $0.23 $0.12
COMMON SHARES
Basic Shares Outstanding 21.39M 21.34M 21.31M
Diluted Shares Outstanding 20.75M 20.60M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.68M $5.471M
YoY Change 369.46% -52.75%
Cash & Equivalents $25.68M $5.471M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $17.31M $17.24M
Other Receivables $0.00 $0.00
Total Short-Term Assets $43.00M $22.71M
YoY Change 89.3% -15.45%
LONG-TERM ASSETS
Property, Plant & Equipment $689.4M $701.0M
YoY Change -1.65% 1.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.038M $9.607M
YoY Change -78.79% -6.81%
Other Assets $19.67M $17.65M
YoY Change 11.43% 2.61%
Total Long-Term Assets $725.9M $745.1M
YoY Change -2.58% 0.62%
TOTAL ASSETS
Total Short-Term Assets $43.00M $22.71M
Total Long-Term Assets $725.9M $745.1M
Total Assets $768.8M $767.8M
YoY Change 0.14% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $15.35M $15.69M
YoY Change -2.17% -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 $25.30M $25.58M
YoY Change -1.1% -8.08%
LONG-TERM LIABILITIES
Long-Term Debt $426.1M $428.6M
YoY Change -0.58% 3.61%
Other Long-Term Liabilities $12.09M $10.44M
YoY Change 15.75% -1.11%
Total Long-Term Liabilities $438.2M $439.1M
YoY Change -0.19% 3.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.30M $25.58M
Total Long-Term Liabilities $438.2M $439.1M
Total Liabilities $463.5M $464.7M
YoY Change -0.24% 2.78%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $353.7M $347.0M
YoY Change 1.93% 0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $304.2M $302.1M
YoY Change
Total Liabilities & Shareholders Equity $768.8M $767.8M
YoY Change 0.14% 0.06%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $5.177M $2.747M
YoY Change 88.46% -61.87%
Depreciation, Depletion And Amortization $6.133M $6.310M
YoY Change -2.81% 5.7%
Cash From Operating Activities $9.969M $11.15M
YoY Change -10.61% 1.1%
INVESTING ACTIVITIES
Capital Expenditures $33.83M $10.25M
YoY Change 229.9% -1027.03%
Acquisitions
YoY Change
Other Investing Activities $12.95M $3.125M
YoY Change 314.37% -59.27%
Cash From Investing Activities -$20.88M -$7.128M
YoY Change 192.87% -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 1.090M -6.801M
YoY Change -116.03% -71.31%
NET CHANGE
Cash From Operating Activities 9.969M 11.15M
Cash From Investing Activities -20.88M -7.128M
Cash From Financing Activities 1.090M -6.801M
Net Change In Cash -9.817M -2.777M
YoY Change 253.51% -54.51%
FREE CASH FLOW
Cash From Operating Activities $9.969M $11.15M
Capital Expenditures $33.83M $10.25M
Free Cash Flow -$23.86M $899.0K
YoY Change -2753.62% -92.59%

Facts In Submission

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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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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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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Financing Costs
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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 Operating Activities
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olp Contributions To Ground Leased Variable Interest Entity Property
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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olp Payments Of Amortization Of Mortgages Payable
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olp Payments Of Amortization Of Mortgages Payable
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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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 Payments Of Financing Costs
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Payments Of Dividends 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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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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28692000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
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olp Non Cash Investing Activities Purchase Accounting Allocation Intangible Lease Assets
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3726000
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 Liabilities
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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 Mortgage Assets
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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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CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5471000
CY2024Q3 olp Restricted Cash Included In Escrow Deposits And Other Assets And Receivables
RestrictedCashIncludedInEscrowDepositsAndOtherAssetsAndReceivables
3008000
CY2023Q3 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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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, to a lesser extent, retail properties, many of which are subject to long-term net leases. As of September 30, 2024, OLP owns </span>104 properties, including two properties owned by consolidated joint ventures and two properties owned by unconsolidated joint ventures. The 104 properties are located in 31 states.</p>
CY2024Q3 us-gaap Number Of Real Estate Properties
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104
CY2024Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104
CY2024Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
31
CY2024Q3 olp Unconsolidated Joint Venture Variable Interest Entity Number Of Entities
UnconsolidatedJointVentureVariableInterestEntityNumberOfEntities
0
CY2024Q3 olp Operating Lease Lease Income Lease Payments Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
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CY2023Q3 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
OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
55230000
olp Operating Lease Lease Income Lease Payments Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeLeasePaymentsExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
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CY2024Q3 olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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3298000
CY2023Q3 olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
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3431000
olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseVariableLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
10287000
olp Operating Lease Variable Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseVariableLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
10048000
CY2024Q3 olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
21936000
CY2023Q3 olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
22303000
olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
65517000
olp Operating Lease Lease Income Excluding Amortization Related To Lease Intangible Assets And Liabilities
OperatingLeaseLeaseIncomeExcludingAmortizationRelatedToLeaseIntangibleAssetsAndLiabilities
67207000
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us-gaap Amortization Of Above And Below Market Leases
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CY2023Q3 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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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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18330000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
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CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
423910000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
156000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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626000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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627000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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629000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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630000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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692000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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537000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
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3897000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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790000
CY2024Q3 us-gaap Operating Lease Liability
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3107000
us-gaap Common Stock Dividends Per Share Declared
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CY2024Q3 us-gaap Dividends Common Stock
DividendsCommonStock
9621000
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DividendsCommonStockCashPaid
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us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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CY2023Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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155000
us-gaap Stock Repurchased And Retired During Period Shares
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CY2024Q3 us-gaap Stock Repurchased And Retired During Period Shares
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CY2023Q3 us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
335000
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
5144000
us-gaap Stock Repurchased And Retired During Period Value
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CY2023Q3 olp Payment Of Commissions On Sale Of Shares
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olp Payment Of Commissions On Sale Of Shares
PaymentOfCommissionsOnSaleOfShares
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CY2024Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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8082000
CY2024Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
361000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2024Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
327000
CY2023Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
321000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
981000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
971000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4850000
CY2024Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
4850000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2426000
CY2023Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
2426000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18904000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
18904000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13681000
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
13681000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20635000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20567000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20578000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20552000
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
29000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
99000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
46000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20753000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20596000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20677000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20598000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.92
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
236000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001558370-24-014590.txt Edgar Link pending
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olp-20240930x10q_htm.xml Edgar Link completed
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olp-20240930_cal.xml Edgar Link unprocessable
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