One Liberty Properties (OLP) Upgraded to Strong-Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of One Liberty Properties (NYSE:OLP) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning. They currently have $31.00 price objective on the real estate investment trust’s stock.

According to Zacks, “ONE LIBERTY PROPERTIES, INC. is a real estate investment trust which invests primarily in improved, commercial real estate under long-term net lease. “

Other equities research analysts also recently issued research reports about the stock. B. Riley boosted their price objective on shares of One Liberty Properties from $24.50 to $27.00 and gave the company a neutral rating in a research report on Wednesday, August 8th. TheStreet downgraded shares of One Liberty Properties from a b- rating to a c+ rating in a research report on Friday, October 12th.

OLP traded down $0.07 during mid-day trading on Friday, reaching $26.27. 37,267 shares of the company traded hands, compared to its average volume of 28,628. The firm has a market cap of $516.29 million, a PE ratio of 12.57, a P/E/G ratio of 2.16 and a beta of 0.68. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.31. One Liberty Properties has a 52-week low of $21.02 and a 52-week high of $29.44.

One Liberty Properties (NYSE:OLP) last announced its earnings results on Thursday, November 8th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.19. The business had revenue of $19.57 million during the quarter, compared to analyst estimates of $20.19 million. One Liberty Properties had a net margin of 31.39% and a return on equity of 8.19%. As a group, research analysts forecast that One Liberty Properties will post 2.05 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of OLP. Renaissance Technologies LLC grew its position in shares of One Liberty Properties by 16.2% during the 3rd quarter. Renaissance Technologies LLC now owns 802,665 shares of the real estate investment trust’s stock valued at $22,298,000 after acquiring an additional 111,665 shares during the period. Millennium Management LLC grew its position in shares of One Liberty Properties by 122.6% during the 1st quarter. Millennium Management LLC now owns 143,963 shares of the real estate investment trust’s stock valued at $3,182,000 after acquiring an additional 79,282 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of One Liberty Properties by 39.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 115,771 shares of the real estate investment trust’s stock valued at $3,058,000 after acquiring an additional 32,984 shares during the period. LPL Financial LLC bought a new stake in shares of One Liberty Properties during the 3rd quarter valued at $859,000. Finally, First Trust Advisors LP bought a new stake in shares of One Liberty Properties during the 3rd quarter valued at $670,000. 41.31% of the stock is owned by hedge funds and other institutional investors.

About One Liberty Properties

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982. The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness and theater properties. Many of these properties are subject to long term net leases under which the tenant is typically responsible for the property's real estate taxes, insurance and ordinary maintenance and repairs.

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