One Liberty Properties, Inc. (NYSE:OLP) announced a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Investors of record on Friday, December 22nd will be paid a dividend of 0.45 per share by the real estate investment trust on Friday, January 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Thursday, December 21st. This is an increase from One Liberty Properties’s previous quarterly dividend of $0.43.
One Liberty Properties has decreased its dividend by an average of 4.2% annually over the last three years and has increased its dividend every year for the last 4 years. One Liberty Properties has a payout ratio of 81.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect One Liberty Properties to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 81.5%.
Shares of One Liberty Properties (NYSE:OLP) opened at $26.48 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.36. One Liberty Properties has a 52-week low of $21.96 and a 52-week high of $27.36. The company has a market capitalization of $498.67, a P/E ratio of 13.02, a P/E/G ratio of 2.10 and a beta of 0.88.
A number of analysts have issued reports on the company. Zacks Investment Research raised One Liberty Properties from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Tuesday, November 28th. DA Davidson raised their target price on One Liberty Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. TheStreet raised One Liberty Properties from a “c+” rating to a “b-” rating in a research report on Thursday, October 5th. B. Riley reissued a “hold” rating and issued a $25.50 target price on shares of One Liberty Properties in a research report on Thursday, November 9th. Finally, ValuEngine raised One Liberty Properties from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. One Liberty Properties presently has a consensus rating of “Buy” and an average price target of $26.40.
In other news, VP Justin Clair sold 2,839 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $24.87, for a total value of $70,605.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lawrence Ricketts sold 7,000 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $24.14, for a total value of $168,980.00. Following the completion of the transaction, the insider now directly owns 113,302 shares of the company’s stock, valued at $2,735,110.28. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.
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About One Liberty Properties
One Liberty Properties, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company acquires, owns and manages a geographically diversified portfolio consisting of retail, industrial, flex, and health and fitness properties. As of December 31, 2016, the Company owned 114 properties and participated in joint ventures that own five properties.
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