One Liberty Properties, Inc. (NYSE:OLP) declared a quarterly dividend on Thursday, June 14th, Wall Street Journal reports. Investors of record on Monday, June 25th will be paid a dividend of 0.45 per share by the real estate investment trust on Friday, July 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date is Friday, June 22nd.
One Liberty Properties has increased its dividend by an average of 5.1% annually over the last three years and has raised its dividend every year for the last 5 years. One Liberty Properties has a payout ratio of 85.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect One Liberty Properties to earn $2.03 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 88.7%.
Shares of One Liberty Properties traded up $0.27, reaching $25.76, during midday trading on Thursday, Marketbeat.com reports. 35,923 shares of the company were exchanged, compared to its average volume of 52,799. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.55 and a current ratio of 1.55. One Liberty Properties has a one year low of $21.02 and a one year high of $27.70. The firm has a market cap of $495.93 million, a price-to-earnings ratio of 12.30, a P/E/G ratio of 2.17 and a beta of 0.76.
In related news, COO Lawrence Ricketts sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $23.76, for a total transaction of $118,800.00. Following the sale, the chief operating officer now owns 125,624 shares of the company’s stock, valued at $2,984,826.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Justin Clair sold 980 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $26.00, for a total transaction of $25,480.00. Following the sale, the vice president now directly owns 31,940 shares in the company, valued at approximately $830,440. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,080 shares of company stock worth $394,655. 21.90% of the stock is owned by insiders.
A number of equities analysts recently weighed in on OLP shares. Zacks Investment Research lowered shares of One Liberty Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, March 21st. TheStreet lowered shares of One Liberty Properties from a “b-” rating to a “c+” rating in a research report on Tuesday, March 13th. B. Riley set a $25.00 target price on shares of One Liberty Properties and gave the stock a “hold” rating in a research report on Friday, March 16th. Finally, ValuEngine lowered shares of One Liberty Properties from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Five analysts have rated the stock with a hold rating, One Liberty Properties currently has a consensus rating of “Hold” and a consensus price target of $26.13.
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 of industrial, retail (including furniture stores and supermarkets), restaurant, health and fitness and theater properties.
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