Lawrence Ricketts, Executive Vice President and Chief Operating Officer of One Liberty Properties Inc . (NYSE:OLP), recently reported a significant sale of company stock. On September 17, Ricketts sold 5,500 shares of common stock at an average price of $28.43 per share, totaling approximately $156,365. Following this transaction, Ricketts holds 187,559.863 shares in direct ownership. The sale occurred as OLP trades at a P/E ratio of 15.92 and maintains a notable 7% dividend yield. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with additional insights available to subscribers.
In addition to the sale, Ricketts acquired 17,175 shares of restricted stock on January 14, 2025, under the company's 2022 Incentive Plan. These shares were issued at no cost and are set to vest on or about January 11, 2030, contingent upon his continued relationship with the company. After these transactions, Ricketts' total direct holdings increased to 204,734.863 shares. The $558.2M market cap company maintains strong fundamentals, with InvestingPro data showing a GOOD Financial Health score and a 34-year track record of consistent dividend payments.
In other recent news, One Liberty Properties is expanding its real estate portfolio with a $49 million acquisition of two industrial properties in Theodore, Alabama. These properties, covering a total of 371,586 square feet of industrial space, generate an aggregate annual base rent of approximately $3.1 million. The deal, funded by a mix of cash and a ten-year $29 million mortgage, is set to close in early 2025, subject to customary closing conditions and satisfactory due diligence.
In addition to this acquisition, One Liberty Properties has actively managed its portfolio with various transactions. The company reported $23.0 million in property dispositions and the purchase of two industrial properties totaling $11.7 million. It also sold a vacant retail property in Georgia for $6.7 million, marking a net gain of $2.1 million.
In recent developments, One Liberty Properties has declared a quarterly dividend of $0.45 per share, demonstrating its ongoing commitment to shareholder returns. Analyst firm B.Riley has maintained a Buy rating on the company's stock and increased the shares target to $26.00, acknowledging the company's active capital recycling strategy.
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