One Liberty Properties Q4 2021 Earnings Report
Key Takeaways
One Liberty Properties reported a successful fourth quarter and full year 2021, marked by high occupancy rates and strategic portfolio transformation towards industrial properties. The company's financial performance showed improvements in rental income, net income, and funds from operations, driven by factors such as increased rental income from Regal Cinemas and reduced interest expenses.
Occupancy at quarter-end reached 99.2%.
Rental income increased to $20.8 million compared to $18.7 million in the prior year quarter.
Net income attributable to One Liberty was $6.5 million, or $0.30 per diluted share, compared to $3.6 million, or $0.16 per diluted share, in the corresponding period of the prior year.
Adjusted Funds from Operations (AFFO) increased to $10.7 million, or $0.51 per diluted share, compared to $9.1 million, or $0.44 per diluted share in the corresponding quarter of the prior year.