In a recent transaction, Jeffrey Gould, Senior Vice President of One Liberty Properties Inc . (NYSE:OLP), sold 3,220 shares of company stock at a price of $23.45 per share, totaling approximately $75,509. The sale was reported in a regulatory filing with the Securities and Exchange Commission.
Jeffrey Gould, who holds multiple roles within the organization including director, officer, and ten percent owner, completed the sale on July 11, 2024. Following the transaction, Gould's directly held shares in One Liberty Properties totaled 371,272.69. It's worth noting that the shares owned by Gould are also influenced by his involvement with several entities, including the Gould Shenfeld Family Foundation, Georgetown Partners LLC, and Gould Investors L.P., as indicated by footnotes in the SEC filing.
The shares owned by the Gould Shenfeld Family Foundation now stand at 15,151.7470, including those acquired through the issuer's dividend reinvestment plan. Georgetown Partners LLC, where Gould serves as a manager, owns 144 shares, representing all shares of the issuer owned by the entity. Additionally, Gould is a manager of 130 Store Company LLC but disclaims beneficial ownership of the 13,622 shares owned by the company, to the extent of not having a pecuniary interest therein.
Gould Investors L.P., another entity associated with Gould, holds a substantial stake of 2,272,600.8560 shares in One Liberty Properties. Gould's role as a manager of the managing general partner of Gould Investors L.P., Georgetown Partners LLC, includes responsibility for these shares, and the total also includes shares obtained through the issuer's dividend reinvestment plan.
Investors and market watchers often monitor insider transactions such as these for insights into executive sentiment regarding their company's stock. The sale by Gould represents a notable insider transaction for One Liberty Properties, a real estate investment trust that operates within the industry.
The SEC filing provides a detailed account of the transactions and the resulting ownership stakes, offering transparency into the trading activities of company executives. The stock transactions are part of the regular disclosure requirements for company insiders, ensuring that the investing public has access to pertinent information about ownership changes within publicly traded companies.
In other recent news, One Liberty Properties has made several significant moves in its real estate portfolio. The company completed $23.0 million in property dispositions during the second quarter, with a focus on active capital recycling, as highlighted by B.Riley. The firm also reported the purchase of two industrial properties for a total of $11.7 million and is under contract to acquire a larger industrial property for $33.0 million.
One Liberty Properties recently sold a vacant retail property in Kennesaw, Georgia, for a gross sales price of $6.7 million, resulting in an approximate gain of $2.1 million. The company is also set to acquire a newly constructed 302,000-square-foot industrial building near Omaha, Nebraska, for $33 million, and has completed the acquisition of a 35,249-square-foot industrial facility in Savannah, Georgia, for $5.2 million.
The company reported various property sales totaling $16.32 million in gross sales price and $5.38 million in net gains. B.Riley has maintained a Buy rating on One Liberty Properties stock and raised the shares target to $26.00 from $25.00, reflecting confidence in the company's selective property transactions and focus on industrial assets. These are the recent developments for One Liberty Properties.
InvestingPro Insights
As investors assess the recent insider transactions at One Liberty Properties Inc. (NYSE:OLP), they may find additional context in the company's financial data and performance metrics. One Liberty Properties, with its adjusted market capitalization of $530.24 million USD, has been a consistent provider to its shareholders, maintaining dividend payments for 34 consecutive years. This commitment is reflected in the current dividend yield of 7.4%, a significant return for income-focused investors.
When considering the company's valuation, the P/E ratio stands at 18.2, which may suggest that the stock is reasonably valued in the current market. The company's profitability over the last twelve months, as indicated by a Gross Profit Margin of 80.87%, provides further assurance to investors about its financial health. This is complemented by an Operating Income Margin of 35.89%, signaling efficient management and robust core operations.
One of the InvestingPro Tips highlights that the company is trading near its 52-week high, with the price at 99.92% of this peak, which could indicate strong investor confidence or potential overvaluation. For those looking to delve deeper into One Liberty Properties' financials and performance indicators, InvestingPro offers additional insights and tips. There are 5 more InvestingPro Tips available, which could guide investors in making more informed decisions. Subscribers can access these tips and enjoy up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription using the coupon code PRONEWS24.
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