ONE LIBERTY PROPERTIES INC
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
OLP$21.16-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
(Amounts in Thousands, Except Per Share Data)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, | |||||||||
| · · 2023 · 2022 · 2021 | |||||||||
| Revenues: · · · · · · | |||||||||
| Rental income, net | | $90,646 | | $92,191 | | $82,180 | |||
| Lease termination fees | | | — | | | 25 | | | 560 |
| Total revenues | | | 90,646 | | | 92,216 | | | 82,740 |
| | | | | | | | | | |
| Operating expenses: | | | | | | | | | |
| Depreciation and amortization | | 24,789 | | | 23,781 | | 22,832 | ||
| General and administrative (see Note 10 for related party information) | | 15,822 | | | 15,258 | | 14,310 | ||
| Real estate expenses (see Note 10 for related party information) | | 16,444 | | | 15,508 | | 13,802 | ||
| State taxes | | 284 | | | 285 | | 291 | ||
| Total operating expenses | | 57,339 | | 54,832 | | 51,235 | |||
| | | | | | | | | | |
| Other operating income | | | | | | | | | |
| Gain on sale of real estate, net | | | 17,008 | | | 16,762 | | | 25,463 |
| Operating income | | 50,315 | | 54,146 | | 56,968 | |||
| | | | | | | | | | |
| Other income and expenses: | | | | | | | | | |
| Equity in (loss) earnings of unconsolidated joint ventures | | (904) | | | 400 | | 202 | ||
| Equity in (loss) earnings from sale of unconsolidated joint venture properties | | | (108) | | | — | | | 805 |
| Prepayment costs on debt | | | — | | | — | | | (901) |
| Income on settlement of litigation (see Note 13) | | | — | | | 5,388 | | | — |
| Other income (see Note 13) | | | 234 | | | 1,003 | | | 869 |
| Interest: | | | | | | | | | |
| Expense | | (18,780) | | | (17,569) | | (17,939) | ||
| Amortization and write-off of deferred financing costs | | (839) | | | (1,115) | | (970) | ||
| | | | | | | | | | |
| Net income | | 29,918 | | 42,253 | | 39,034 | |||
| Net income attributable to non-controlling interests | | | (304) | | | (76) | | (177) | |
| Net income attributable to One Liberty Properties, Inc. | | $29,614 | | $42,177 | | $38,857 | |||
| | | | | | | | | | |
| Weighted average number of common shares outstanding: | | | | | | | | | |
| Basic | | | 20,499 | | | 20,360 | | 20,086 | |
| Diluted | | | 20,556 | | | 20,453 | | 20,264 | |
| | | | | | | | | | |
| Per common share attributable to common stockholders: | | | | | | | | | |
| Basic | | $1.38 | | $2.00 | | $1.87 | |||
| Diluted | | $1.38 | | $1.99 | | $1.85 | |||
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