Zacks Investment Research Upgrades One Liberty Properties (OLP) to “Hold”

Zacks Investment Research upgraded shares of One Liberty Properties (NYSE:OLP) from a sell rating to a hold rating in a research note released on Saturday morning, Zacks.com reports.

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. “

Several other research analysts have also recently issued reports on OLP. TheStreet raised One Liberty Properties from a c+ rating to a b- rating in a research note on Friday, February 1st. ValuEngine raised One Liberty Properties from a hold rating to a buy rating in a research note on Friday, March 1st.

Shares of NYSE:OLP traded up $0.06 on Friday, hitting $29.45. The company’s stock had a trading volume of 37,978 shares, compared to its average volume of 38,080. One Liberty Properties has a 12 month low of $23.02 and a 12 month high of $29.94. The stock has a market cap of $579.72 million, a price-to-earnings ratio of 14.02, a PEG ratio of 2.51 and a beta of 0.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.66 and a current ratio of 1.66.

In related news, insider Lawrence Ricketts sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $29.70, for a total transaction of $148,500.00. Following the completion of the transaction, the insider now owns 127,494 shares of the company’s stock, valued at $3,786,571.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Justin Clair sold 2,946 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $29.00, for a total value of $85,434.00. Following the transaction, the vice president now directly owns 31,940 shares of the company’s stock, valued at approximately $926,260. The disclosure for this sale can be found here. Insiders have sold 9,946 shares of company stock valued at $292,934 in the last ninety days. Company insiders own 21.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in One Liberty Properties by 35.4% during the fourth quarter. Rhumbline Advisers now owns 25,324 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 6,619 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of One Liberty Properties during the fourth quarter valued at $630,000. Vanguard Group Inc. lifted its holdings in shares of One Liberty Properties by 1.3% during the third quarter. Vanguard Group Inc. now owns 1,595,554 shares of the real estate investment trust’s stock valued at $44,325,000 after purchasing an additional 21,240 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of One Liberty Properties during the fourth quarter valued at $51,000. Finally, Dupont Capital Management Corp lifted its holdings in shares of One Liberty Properties by 24.9% during the fourth quarter. Dupont Capital Management Corp now owns 27,067 shares of the real estate investment trust’s stock valued at $656,000 after purchasing an additional 5,400 shares during the last quarter. 40.36% of the stock is owned by institutional investors and hedge funds.

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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