One Liberty Properties, Inc. (OLP) reported its financial results for the third quarter of 2025, revealing a notable increase in revenue and profitability compared to the same period in the previous year. For the three months ended September 30, 2025, the company generated total revenues of $23.8 million, a 7% increase from $22.2 million in the prior year. Net income attributable to One Liberty Properties, Inc. was $10.5 million, or $0.48 per diluted share, compared to $5.2 million, or $0.23 per diluted share, in the same quarter of 2024. For the nine months ended September 30, 2025, total revenues reached $72.5 million, up 8.7% from $66.7 million in 2024, while net income increased to $24.7 million from $20.2 million.
The company experienced significant operational changes, including the acquisition of multiple properties and the sale of others. During the nine months ended September 30, 2025, OLP acquired properties totaling $112.3 million, including a 210,600 square foot industrial property in Blythewood, South Carolina, for $24 million. The company also sold properties for a total of $49.5 million, resulting in a gain on sale of real estate of $16.7 million for the nine-month period. As of September 30, 2025, OLP owned 98 properties across 30 states, with an occupancy rate of approximately 98.2%.
In terms of financial health, OLP's total assets increased to $802.3 million as of September 30, 2025, compared to $767.0 million at the end of 2024. The company's liabilities also rose, with total liabilities amounting to $496.5 million, up from $458.4 million. The increase in liabilities was primarily due to higher mortgage payables, which reached $458.7 million, reflecting the company's ongoing investment strategy. The company maintained a strong cash position, with cash and cash equivalents totaling $18.8 million.
Looking ahead, OLP's management expressed optimism about future growth, citing a strong pipeline of potential acquisitions and a focus on expanding its industrial property portfolio. The company anticipates continued revenue growth driven by its strategic acquisitions and a favorable leasing environment. Additionally, OLP plans to utilize proceeds from recent property sales and a settlement related to a legal matter to fund future acquisitions and operational needs. 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 in September 2025.
About ONE LIBERTY PROPERTIES INC
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