Lawrence Ricketts, Executive Vice President and Chief Operating Officer One Liberty Properties Inc . (NYSE:), recently reported a significant selloff in the company’s stock. On September 17, Ricketts sold 5,500 shares of common stock at an average price of $28.43 per share, for a total of approximately $156,365. Following this transaction, Ricketts holds 187,559,863 shares directly owned. The sale comes as OLP trades at a P/E ratio of 15.92 and maintains a significant 7% dividend yield. InvestingPro analysis shows that stocks are currently trading above their fair value, with additional insights available to subscribers.
In addition to the sale, Ricketts acquired 17,175 restricted shares under the 2022 Incentive Plan on January 14, 2025. These shares were issued at no cost and vest on or about January 11, 2030, depending on his continued relationship with the Company. Following these transactions, Ricketts’ total direct holdings increased to 204,734,863 shares. The $558.2 million market cap company maintains strong fundamentals, with InvestingPro data showing a GOOD financial health rating and a 34-year track record of consistent dividend payments.
In other recent news, One Liberty Properties is expanding its real estate portfolio with the $49 million purchase of two industrial properties in Theodore, Alabama. These properties, which cover a total of 371,586 square feet of industrial space, generate a total annual base rent of approximately $3.1 million. The deal, financed with a mix of cash and a $29 million ten-year mortgage, is expected to close in early 2025, subject to customary closing conditions and satisfactory due diligence.
Along with this acquisition, One Liberty Properties has been actively managing its portfolio through various transactions. The company reported an asset sale of $23.0 million and the purchase of two industrial properties totaling $11.7 million. She also sold a vacant retail property in Georgia for $6.7 million, making a net profit of $2.1 million.
In recent events, One Liberty Properties announced a quarterly dividend of $0.45 per share, demonstrating its continued commitment to shareholder returns. Analyst firm B.Riley maintained a Buy rating on the company’s stock and raised their target price on the stock to $26.00, recognizing the company’s active capital recycling strategy.
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