Earnings Releases·Nov 3, 2026, 4:27 PM ET

One Liberty Properties — Third Quarter 2026 Earnings Summary

Total revenues increased 11.9% year-over-year to $26.6 million, while Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) grew 9.7% and 9.3% respectively to $0.45 and $0.50 per share; however, net income declined to $1.1 million ($0.04 per share) from $10.5 million ($0.48 per share) due to a significant reduction in net gains on real estate sales.
The company executed a strategic capital recycling initiative, selling two non-core retail properties for $7.8 million during the quarter and five additional properties post-quarter for $25.1 million, with proceeds directed toward accretive industrial acquisitions including a $34 million four-building portfolio in Milwaukee and a $11.3 million asset in Ocala, Florida.
Management reaffirmed its industrial growth strategy, noting that industrial properties now represent 86% of base rent and portfolio occupancy stands at 97.5%, supported by a new $100 million credit facility with an extension right to December 2030 and an accordion feature for up to $50 million.
Operating expenses rose to $19.3 million and interest expense increased to $6.8 million year-over-year, driven by higher depreciation, amortization, and increased weighted average mortgage debt, though available liquidity remained robust at $104.8 million as of late October 2026.