One Liberty Properties Reports 12.6% Revenue Growth in Q2 2025

One Liberty Properties, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $24.5 million, a 12.6% increase from $21.8 million in the same period last year. For the first half of 2025, revenues reached $48.7 million, up 9.5% from $44.5 million in the prior year. The growth in revenue was primarily driven by a 12.3% increase in rental income, which amounted to $24.5 million for the quarter and $48.6 million for the six months ended June 30, 2025. The company also recognized lease termination fees of $66,000 during the quarter, contributing to the overall revenue figures.

In terms of profitability, One Liberty Properties reported a net income of $9.4 million for the second quarter, slightly down from $9.7 million in the same quarter of 2024. For the first half of 2025, net income totaled $13.6 million, compared to $15.1 million in the previous year. The decrease in net income was attributed to increased operating expenses, which rose to $15.7 million for the quarter, up from $14.9 million a year earlier. This increase was driven by higher depreciation and amortization costs, as well as increased real estate expenses related to property acquisitions and maintenance.

Operationally, One Liberty Properties continued to expand its portfolio, owning 103 properties across 32 states as of June 30, 2025. The company completed several acquisitions during the first half of the year, totaling approximately $88.3 million, which included properties in Theodore, Alabama, Wichita, Kansas, and Council Bluffs, Iowa. The company also announced a pending acquisition of a 210,600 square foot industrial property in Blythewood, South Carolina, for $24 million, expected to close in the third quarter of 2025.

The company’s financial position showed total assets of $795.6 million as of June 30, 2025, an increase from $767.0 million at the end of 2024. Total liabilities also rose to $491.8 million, up from $458.4 million, primarily due to increased mortgage debt associated with property acquisitions. The company maintained a strong occupancy rate of approximately 98.8% across its portfolio, reflecting effective management of its properties and tenant relationships.

Looking ahead, One Liberty Properties expressed optimism about its growth trajectory, emphasizing its focus on acquiring additional industrial properties and managing its existing portfolio effectively. The company anticipates continued revenue growth driven by its strategic acquisitions and strong tenant demand. However, it also acknowledged potential risks, including economic volatility and tenant defaults, which could impact future performance. The company remains committed to maintaining its REIT status by distributing at least 90% of its taxable income to shareholders, with a quarterly dividend of $0.45 per share declared for the second quarter.