Senior Vice President of One Liberty Properties Inc . (NYSE:OLP), Jeffrey Gould, has sold a total of 18,000 shares of the company's common stock in two separate transactions on July 2 and July 3, 2024, for a total of over $415,904. The shares were sold at prices ranging from $23.00 to $23.43, with the weighted average sale price for the July 2 transaction being $23.0159 and for the July 3 transaction being $23.1957.
The transactions were disclosed in a recent filing with the Securities and Exchange Commission. According to the filing, after the sales, Gould held a total of 378,813.367 shares directly. Additionally, the filing includes shares owned indirectly through various entities. The Gould Shenfeld Family Foundation, of which Gould is a director, holds 15,151.7470 shares, as 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. The 130 Store Company LLC, where Gould is also a manager, holds 13,622 shares, and Gould Investors L.P. holds a significant 2,272,600.8560 shares, including those obtained through the dividend reinvestment plan.
The SEC filing includes footnotes indicating that Gould disclaims beneficial ownership of the securities held by 130 Store Company LLC to the extent he does not have a pecuniary interest in them. The shares reported are owned directly or indirectly, and the total includes shares acquired by the entities through the issuer's dividend reinvestment plan.
Investors often monitor insider transactions as they can provide insights into the executive's view of the company's current valuation and future prospects. The sale of a substantial amount of shares by a senior executive such as Gould may attract the attention of current and potential investors.
One Liberty Properties Inc. is a real estate investment trust that focuses on acquiring, owning, and managing a diversified portfolio of real estate properties under long-term leases. The company's shares are traded on the New York Stock Exchange under the ticker symbol OLP.
In other recent news, One Liberty Properties has been actively managing its real estate portfolio. The company has completed $23.0 million in property dispositions during the second quarter, including the sale of a vacant retail property in Kennesaw, Georgia, for a gross sales price of $6.7 million. The purchase of two industrial properties for a total of $11.7 million at a 6.8% cash cap rate was also reported, along with a contract to acquire a larger industrial property for $33.0 million.
B.Riley has maintained a Buy rating on One Liberty Properties, raising the shares target to $26.00 from $25.00. The firm's analysis suggests that One Liberty's strategy of selling retail properties to fund the acquisition of industrial assets is likely to be beneficial for the company's market valuation.
The company has also announced several transactions involving industrial and retail properties, including plans to acquire a newly constructed 302,000-square-foot industrial building near Omaha, Nebraska. One Liberty recently completed the acquisition of a 35,249-square-foot industrial facility in Savannah, Georgia, for $5.2 million as well.
One Liberty Properties is facing challenges with an LA Fitness facility in Hamilton, Ohio, leading to a non-binding letter of intent to sell the property for $4.4 million. These are the recent developments for One Liberty Properties.
InvestingPro Insights
In light of the recent insider transactions by Jeffrey Gould, Senior Vice President of One Liberty Properties Inc. (NYSE:OLP), investors may find the following InvestingPro Insights particularly relevant. With a market capitalization of $497.19 million, One Liberty Properties presents a modest investment scale in the real estate investment trust market. The company's P/E ratio stands at 17.01, suggesting that investors are willing to pay $17.01 for every dollar of earnings, which may be seen as reasonable in the current market context.
One of the most notable InvestingPro Tips for OLP is the company's track record of paying dividends. One Liberty Properties has not only been paying dividends but has also maintained these payments for an impressive 34 consecutive years. This consistency could be particularly appealing to income-focused investors, especially considering the substantial dividend yield of 7.75% as of the latest data. Such a yield is considerably higher than the average for the broader market, making OLP an attractive stock for those seeking regular income streams from their investments.
Additionally, the company's shares are trading near their 52-week high, with the price at 95.06% of this peak. This could indicate market confidence in the company's performance and future prospects. Moreover, the company is expected to be profitable this year, as per analyst predictions, which aligns with the fact that it has been profitable over the last twelve months.
For investors seeking a deeper analysis and additional insights on One Liberty Properties, InvestingPro offers more tips that could help in making an informed decision. By visiting https://www.investing.com/pro/OLP, investors can access these valuable tips. Furthermore, for those interested in a yearly Pro or a biyearly Pro+ subscription to InvestingPro, using the coupon code PRONEWS24 provides up to a 10% discount. With this subscription, investors can benefit from a total of 6 additional InvestingPro Tips that can guide their investment strategies for OLP and other companies.
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