Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2025 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-09279 ONE LIBERTY PROPERTIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. employer incorporation or o ...

Exhibit 99.1 ONE LIBERTY PROPERTIES REPORTS FIRST QUARTER 2025 RESULTS — Closes on Previously Announced Purchase of Four Industrial Properties for $88.3 Million — — Completes Sale of Two Non-Industrial Assets for a $1.1 Million Gain — GREAT NECK, New York, May 6, 2025 — One Liberty Properties, Inc. (the "Company" or "One Liberty") (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended March 31, 2025. "We continue to focus on evol ...

Core Viewpoint - One Liberty Properties, Inc. is focusing on enhancing its portfolio by increasing its industrial assets, which now account for approximately 75% of its base rent, while also managing sales of non-industrial properties to stabilize cash flow in uncertain economic conditions [2][3]. Financial Performance - Rental income increased by 7.7% to $24.2 million in Q1 2025 from $22.4 million in Q1 2024, primarily due to the acquisition of seven industrial properties [3]. - Total operating expenses rose to $15.7 million in Q1 2025 from $14.5 million in Q1 2024, driven by higher real estate expenses and increased depreciation and amortization [4]. - Net income attributable to One Liberty was $4.2 million, or $0.18 per diluted share, in Q1 2025, down from $5.2 million, or $0.23 per diluted share, in Q1 2024 [5]. - Funds from Operations (FFO) remained stable at $9.6 million, or $0.44 per diluted share, compared to $9.6 million, or $0.45 per diluted share, in the prior year [6]. Transactions - The company completed the acquisition of four industrial properties for $88.3 million, incurring new mortgage debt of $52.1 million at a weighted average interest rate of 6.2% [9]. - Two non-industrial assets were sold for a gross sales price of $3.7 million, resulting in a gain of $1.1 million [11]. Balance Sheet - As of March 31, 2025, One Liberty had total assets of $811.7 million, total debt of $471 million, and stockholders' equity of $303.2 million [12]. - The company reported $8.2 million in cash and cash equivalents, with available liquidity of $96.4 million as of May 1, 2025 [12]. Non-GAAP Financial Measures - Adjusted Funds from Operations (AFFO) for Q1 2025 was $10.5 million, or $0.48 per diluted share, compared to $10.2 million, or $0.48 per diluted share, in Q1 2024 [6][25].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-09279 ONE LIBERTY PROPERTIES, INC. (Exact name of registrant as specified in its charter) MARYLAND (State or other jurisdiction of Incorporation or Organization ...

Core Insights - One Liberty Properties, Inc. has successfully transformed into an industrial property owner, acquiring $133 million in industrial assets since the beginning of 2024, with over 75% of base rent now from this asset class [2][16]. Financial Performance - For the fourth quarter of 2024, revenues increased to $23.9 million from $22.7 million in the same period of 2023, driven by $1.2 million from newly acquired properties and $1.1 million from same-store properties [3]. - Total operating expenses for the fourth quarter of 2024 were $15.0 million, up from $14.3 million in the same quarter of 2023, primarily due to increased real estate expenses [4]. - Net income for the fourth quarter of 2024 was $10.5 million, or $0.49 per diluted share, compared to $15.0 million, or $0.71 per diluted share in the prior year, largely due to a decrease in gain-on-sale of real estate [5]. - Funds from Operations (FFO) for the fourth quarter of 2024 were $10.0 million, or $0.46 per diluted share, an increase from $9.6 million, or $0.45 per diluted share in the same quarter of 2023 [6]. - Adjusted Funds from Operations (AFFO) for the fourth quarter of 2024 were $10.8 million, or $0.50 per diluted share, compared to $10.6 million, or $0.50 per diluted share in the prior year [7]. Annual Results - Total revenues for 2024 were $90.6 million, consistent with 2023, including $250,000 from lease termination fees in 2024 [9]. - Total operating expenses for 2024 were $58.7 million, up from $57.3 million in 2023, mainly due to a $1.5 million increase in real estate expenses [9]. - The net gain-on-sale of real estate for 2024 was $18.0 million from the sale of 11 properties, compared to $17.0 million from 10 properties in 2023 [10]. - Net income attributable to One Liberty for 2024 was $30.4 million, or $1.40 per diluted share, compared to $29.6 million, or $1.38 per diluted share in 2023 [11]. Balance Sheet and Liquidity - As of December 31, 2024, the company had total assets of $767 million, total debt of $420.6 million, and total stockholders' equity of $307.4 million [14]. - As of February 28, 2025, One Liberty's available liquidity was $110.1 million, including $10.1 million in cash and cash equivalents [14]. Dividends - On March 5, 2025, the Board of Directors declared the company's 129th consecutive quarterly dividend of $0.45 per share, payable on April 4, 2025 [15]. Acquisitions - In 2024, the company acquired three industrial properties for $44.7 million, expecting to recognize approximately $3.5 million in rental income in 2025 [16]. - Subsequent to the reporting period, the company acquired two industrial properties for $49 million and entered into a contract to acquire another property for $26 million [18][20].

Revenue Performance - Revenues for Q4 2024 were $23.9 million, an increase of 5.3% from $22.7 million in Q4 2023, driven by $1.2 million from properties acquired in 2024 and $1.1 million from same-store properties[3]. - Total revenues for the full year 2024 were $90.6 million, unchanged from 2023, including $250,000 of lease termination fee income[10]. - Total revenues for Q4 2024 were $23,856,000, an increase of 4.9% compared to $22,741,000 in Q4 2023[39]. - Rental income for the year ended December 31, 2024, was $90,313,000, slightly down from $90,646,000 in 2023[39]. Net Income and Earnings Per Share - Net income for Q4 2024 was $10.5 million, or $0.49 per diluted share, compared to $15.0 million, or $0.71 per diluted share in Q4 2023, primarily due to a decrease in gain-on-sale of real estate[7]. - Net income attributable to One Liberty Properties, Inc. for Q4 2024 was $10,532,000, a decrease of 29.5% from $14,962,000 in Q4 2023[39]. - Net income per share attributable to common stockholders - diluted for Q4 2024 was $0.49, down from $0.71 in Q4 2023[39]. Funds from Operations - Funds from Operations (FFO) for Q4 2024 was $10.0 million, or $0.46 per diluted share, up from $9.6 million, or $0.45 per diluted share in Q4 2023[8]. - Funds from operations (FFO) for Q4 2024 were $10,029,000, up 4.3% from $9,621,000 in Q4 2023[41]. - Adjusted Funds from Operations (AFFO) for Q4 2024 was $10.8 million, or $0.50 per diluted share, compared to $10.6 million, or $0.50 per diluted share in Q4 2023[9]. - Adjusted funds from operations (AFFO) for Q4 2024 were $10,819,000, an increase of 2.2% compared to $10,582,000 in Q4 2023[41]. Operating Expenses - Total operating expenses for 2024 were $58.7 million, an increase of 2.4% from $57.3 million in 2023, primarily due to a $1.5 million rise in real estate expenses[11]. Asset and Liability Overview - As of December 31, 2024, total assets were $767 million, total debt was $420.6 million, and total stockholders' equity was $307.4 million[17]. - Total assets increased to $766,954,000 in 2024 from $761,606,000 in 2023, reflecting a growth of 0.5%[37]. - Total liabilities rose to $458,379,000 in 2024, up from $453,861,000 in 2023, indicating a 1.1% increase[37]. - Cash and cash equivalents increased significantly to $42,315,000 in 2024 from $26,430,000 in 2023, representing a growth of 60%[37]. Dividends - The company declared its 129th consecutive quarterly dividend of $0.45 per share, payable on April 4, 2025[18]. Property Transactions - The company acquired three industrial properties for $44.7 million in 2024, expecting to recognize approximately $3.5 million of rental income in 2025[19]. - The company sold six retail properties and other assets for net proceeds of $38.2 million, resulting in a net gain of $18.0 million[20]. Shareholder Information - The weighted average number of diluted common shares outstanding increased to 20,796,000 in Q4 2024 from 20,383,000 in Q4 2023[41].

Core Viewpoint - One Liberty Properties, Inc. has declared a quarterly dividend of $0.45 per share, marking its 129th consecutive quarterly dividend and demonstrating a commitment to maintaining or increasing dividends for over 31 years [1]. Company Overview - One Liberty Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT) incorporated in Maryland in 1982 [2]. - The company focuses on acquiring, owning, and managing a geographically diversified portfolio, primarily consisting of industrial properties [2]. - Many properties in One Liberty's portfolio are subject to long-term net leases, where tenants are responsible for real estate taxes, insurance, and ordinary maintenance and repairs [2].

Group 1 - The industrial sector is favored for its potential long-term performance in real estate, driven by significant growth in e-commerce [1] - The investment philosophy focuses on value investing, targeting undervalued assets for long-term appreciation and dividends [1] - The analyst has a strong academic background in finance, including a bachelor's degree in Finance and Banking and a master's degree in Financial Management and Investment, along with relevant certifications [1] Group 2 - The analyst has passed CFA Level 1 and Level 2, with plans to take Level 3 in August 2025, indicating a commitment to enhancing expertise in investment analysis [1] - The investment strategy emphasizes stable cash flow sectors such as consumer defensive, utilities, and real estate [1] - The motivation for contributing to Seeking Alpha is to improve understanding of financial markets through company analysis and engagement with experienced investors [1]

Group 1 - One Liberty Properties (NYSE: OLP) is shifting its focus towards acquiring industrial properties amidst a challenging commercial real estate market, which is seen as a logical strategy to strengthen cash flow for investors [1] - The company aims to attract value investors who are looking for bargains, particularly in emerging markets, and emphasizes a long-term investment approach [1] Group 2 - The article reflects a perspective influenced by notable economic thinkers, suggesting a potential shift towards an Austrian economic viewpoint in future analyses [1]

Core Insights - One Liberty Properties, Inc. has completed the acquisition of two Class A industrial properties in Mobile, Alabama for $49 million, which will enhance its industrial portfolio that now exceeds 72% of all base rent [1][2] - The company has also sold retail and health & fitness properties for a total of $23 million, realizing over $6.6 million in gains [1] Acquisition Details - The acquired properties total 371,586 square feet and are situated on approximately 31 acres with four tenants, generating an aggregate annual base rent of about $3.1 million [1] - The annual rental increases for these properties range from 2.3% to 3.5%, with a weighted average remaining lease term of nearly seven years [1] - Financing for the acquisition was secured through cash and a ten-year $29 million mortgage at an interest rate of 6.12% [1] Property Features - The Class A warehouses were constructed in 2022 and 2023, featuring a clear height of 32' to 36', concrete tilt-wall construction, 70 dock high loading doors, LED lighting, and ESFR sprinklers [2] - The properties are strategically located adjacent to Interstate-10, enhancing their appeal as part of a growing logistics hub in the Southeast [2] Recent Sales - On December 27, 2024, One Liberty completed the sale of a LA Fitness property in Secaucus, New Jersey for $21.4 million, realizing net proceeds of approximately $13.0 million and anticipating a gain of about $6.4 million [3] - Additionally, on December 10, 2024, the company sold an Advance Auto retail property in Hilliard, Ohio for $1.6 million, with net proceeds of approximately $704,000 and an anticipated gain of around $224,000 [4] Company Overview - One Liberty Properties is a self-administered and self-managed real estate investment trust, incorporated in Maryland in 1982, focusing on acquiring, owning, and managing a diversified portfolio primarily consisting of industrial properties [7]