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In a recent transaction, Jeffrey Gould, Senior Vice President of One Liberty Properties Inc (NYSE:OLP), sold 5,813 shares of the company's common stock for a total value of $136,314, at an average price of $23.45 per share. This move was disclosed in a regulatory filing with the Securities and Exchange Commission.
Jeffrey Gould, who also serves as a director and is a significant shareholder of One Liberty Properties, completed the sale on July 8, 2024. Following the transaction, Gould's direct holdings in the company decreased, yet he still indirectly maintains a substantial stake through various entities.
The shares sold by Gould were part of his direct holdings, and the sale has adjusted his ownership to 373,000.367 shares of common stock in the real estate investment trust. It's worth noting that Gould's indirect holdings through entities such as the Gould Shenfeld Family Foundation, Georgetown Partners LLC, 130 Store Company LLC, and Gould Investors L.P. remain significant, as detailed in the footnotes of the filing. These entities collectively hold shares amounting to millions, with Gould Investors L.P. alone owning over 2.27 million shares.
The transaction was conducted at a uniform price, demonstrating a clear and straightforward sale process. One Liberty Properties Inc, headquartered in Great Neck, NY, operates within the real estate sector, focusing on investment trusts, and has been a notable player in the industry.
Investors often monitor the buying and selling activities of company insiders like Gould to gain insights into the firm's financial health and future prospects. Such transactions are publicly reported to ensure transparency and maintain investor confidence in the market.
For updates on further transactions and company performance, shareholders and potential investors are encouraged to review the public filings and follow the market trends closely.
In other recent news, One Liberty Properties has been actively managing its real estate portfolio with a series of transactions. The company completed $23.0 million in property dispositions in Q2 of 2024, including the sale of a vacant retail property in Georgia for $6.7 million. One Liberty also purchased two industrial properties totaling $11.7 million and is under contract to acquire a larger industrial property for $33.0 million. B.Riley, maintaining a Buy rating on One Liberty, raised the shares target to $26.00, noting the company's strategy of selling retail properties to fund the acquisition of industrial assets. The firm expects this strategy to be beneficial for the company's market valuation due to higher rent escalators and renewal rates associated with industrial properties. However, B.Riley noted a slight decrease in their 2024 adjusted funds from operations (AFFO) per share estimate, which fell by 1.4% compared to the previous number. Despite facing challenges with an LA Fitness facility in Ohio, One Liberty continues to optimize its portfolio with ongoing transactions involving industrial and retail properties.
InvestingPro Insights
Following the recent insider transaction by Jeffrey Gould at One Liberty Properties Inc (NYSE:OLP), the market may find it useful to consider some key financial metrics and insights provided by InvestingPro. With a current market capitalization of $496.98 million, One Liberty Properties presents an interesting profile for investors, particularly given its notable dividend yield. The real estate investment trust boasts a robust gross profit margin of 80.87% over the last twelve months as of Q1 2024, underlining its efficiency in generating revenue over its direct costs.
One of the standout InvestingPro Tips for OLP is its substantial dividend yield, currently at 7.74%, which is significant in the current investment landscape. Not only does OLP pay a noteworthy dividend to its shareholders, but it also has a remarkable track record of maintaining these dividend payments for 34 consecutive years, underscoring its commitment to shareholder returns. Additionally, the company's stock is trading near its 52-week high, with the price at 95.18% of this peak, reflecting strong market confidence.
Investors considering OLP should note its P/E ratio of 16.92, which offers a glimpse into the value the market currently places on its earnings. Moreover, for those looking at longer-term potential, analysts predict the company will be profitable this year, a sentiment supported by OLP's profitability over the last twelve months.
To gain a deeper understanding of One Liberty Properties Inc and to access further InvestingPro Tips, investors can explore the comprehensive analysis available at InvestingPro. Additionally, there are 5 more InvestingPro Tips available for OLP, which could provide valuable context and guidance. For those interested in a full InvestingPro experience, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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