Loading...
•
Sep 30, 2023
One Liberty Properties Q3 2023 Earnings Report
Rental income increased and the company reported positive accomplishments in a challenging macro-economic environment.
Key Takeaways
One Liberty Properties reported a 4.7% increase in rental income to $22.5 million for the third quarter of 2023, compared to $21.5 million in the third quarter of 2022. Net income was $2.7 million, or $0.12 per diluted share, compared to $7.2 million, or $0.34 per diluted share, in the third quarter of 2022. FFO was $9.7 million, or $0.45 per diluted share, for the third quarter of 2023, compared to $9.2 million, or $0.44 diluted share, in the third quarter of 2022. Adjusted Funds from Operations, or AFFO, was $10.5 million, or $0.49 per diluted share for the quarter ended September 30, 2023, compared to $10.1 million, or $0.48 per diluted share, for the quarter ended September 30, 2022.
Rental income grew 4.7% year-over-year to $22.5 million.
Net income attributable to One Liberty was $2.7 million, or $0.12 per diluted share.
FFO was $9.7 million, or $0.45 per diluted share.
AFFO was $10.5 million, or $0.49 per diluted share.
One Liberty Properties
One Liberty Properties
Forward Guidance
The industrial property acquisition made in the quarter along with ongoing property sales, positions the company to build on the progress made this year.