Zacks Investment Research downgraded shares of One Liberty Properties (NYSE:OLP) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “ONE LIBERTY PROPERTIES, INC. is a real estate investment trust which invests primarily in improved, commercial real estate under long-term net lease. “
Other analysts have also issued research reports about the company. B. Riley raised their target price on One Liberty Properties from $24.50 to $27.00 and gave the company a neutral rating in a report on Wednesday. TheStreet raised One Liberty Properties from a c+ rating to a b- rating in a report on Friday, June 29th. Four analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and a consensus price target of $28.33.
OLP traded down $0.39 during midday trading on Friday, reaching $28.31. The company’s stock had a trading volume of 36,573 shares, compared to its average volume of 42,247. The firm has a market capitalization of $553.57 million, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 2.37 and a beta of 0.65. The company has a quick ratio of 1.55, a current ratio of 1.63 and a debt-to-equity ratio of 1.36. One Liberty Properties has a twelve month low of $21.02 and a twelve month high of $28.84.
One Liberty Properties (NYSE:OLP) last released its earnings results on Monday, August 6th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.27). The business had revenue of $19.75 million during the quarter, compared to analyst estimates of $19.78 million. One Liberty Properties had a net margin of 27.68% and a return on equity of 7.24%. analysts anticipate that One Liberty Properties will post 2.02 earnings per share for the current year.
In other news, VP Justin Clair sold 980 shares of One Liberty Properties stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $26.00, for a total transaction of $25,480.00. Following the sale, the vice president now owns 31,940 shares of the company’s stock, valued at approximately $830,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Robert Lovejoy sold 2,000 shares of One Liberty Properties stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $24.35, for a total value of $48,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,080 shares of company stock worth $387,575 in the last three months. 21.90% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in OLP. Deutsche Bank AG lifted its position in shares of One Liberty Properties by 138.0% during the 4th quarter. Deutsche Bank AG now owns 33,189 shares of the real estate investment trust’s stock worth $858,000 after buying an additional 19,242 shares during the period. Two Sigma Investments LP lifted its position in shares of One Liberty Properties by 22.5% during the 4th quarter. Two Sigma Investments LP now owns 20,304 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 3,730 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of One Liberty Properties by 10.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 64,978 shares of the real estate investment trust’s stock worth $1,684,000 after buying an additional 6,090 shares during the period. Millennium Management LLC lifted its position in shares of One Liberty Properties by 152.9% during the 4th quarter. Millennium Management LLC now owns 64,681 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 39,110 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in shares of One Liberty Properties during the 4th quarter worth approximately $163,000. 41.14% of the stock is currently owned by institutional investors.
About One Liberty Properties
One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982. The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness and theater properties. Many of these properties are subject to long term net leases under which the tenant is typically responsible for the property's real estate taxes, insurance and ordinary maintenance and repairs.
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