CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Revenues: |
|
|
|
| Rental income, net |
$ 64,164,000
|
$ 58,973,000
|
$ 56,647,000
|
| Tenant reimbursements |
6,424,000
|
3,852,000
|
2,561,000
|
| Lease termination fees |
|
2,886,000
|
1,269,000
|
| Total revenues |
70,588,000
|
65,711,000
|
60,477,000
|
| Operating expenses: |
|
|
|
| Depreciation and amortization |
18,164,000
|
16,384,000
|
14,662,000
|
| General and administrative (see Note 11 for related party information) |
10,693,000
|
9,527,000
|
8,796,000
|
| Real estate expenses (see Note 11 for related party information) |
8,931,000
|
6,047,000
|
4,407,000
|
| Real estate acquisition costs (see Note 11 for related party information) |
596,000
|
449,000
|
479,000
|
| Federal excise and state taxes |
203,000
|
343,000
|
488,000
|
| Leasehold rent |
308,000
|
308,000
|
308,000
|
| Impairment loss |
0
|
0
|
1,093,000
|
| Total operating expenses |
38,895,000
|
33,058,000
|
30,233,000
|
| Operating income |
31,693,000
|
32,653,000
|
30,244,000
|
| Other income and expenses: |
|
|
|
| Gain on sale of real estate, net |
10,087,000
|
5,392,000
|
10,180,000
|
| Purchase price fair value adjustment |
|
960,000
|
|
| Prepayment costs on debt |
(577,000)
|
(568,000)
|
(1,581,000)
|
| Equity in earnings of unconsolidated joint ventures (see Note 11 for related party information) |
1,005,000
|
412,000
|
533,000
|
| Gain on sale - investment in BRT Realty Trust (related party) |
|
|
134,000
|
| Other income |
435,000
|
108,000
|
29,000
|
| Interest: |
|
|
|
| Expense |
(17,258,000)
|
(16,027,000)
|
(16,305,000)
|
| Amortization and write-off of deferred financing costs |
(904,000)
|
(1,023,000)
|
(1,037,000)
|
| Income from continuing operations |
24,481,000
|
21,907,000
|
22,197,000
|
| Income from discontinued operations |
|
|
13,000
|
| Net income |
24,481,000
|
21,907,000
|
22,210,000
|
| Net income attributable to non-controlling interests |
(59,000)
|
(1,390,000)
|
(94,000)
|
| Net income attributable to One Liberty Properties, Inc. |
$ 24,422,000
|
$ 20,517,000
|
$ 22,116,000
|
| Weighted average number of common shares outstanding: |
|
|
|
| Basic (in shares) |
16,768
|
15,971
|
15,563
|
| Diluted (in shares) |
16,882
|
16,079
|
15,663
|
| Per common share attributable to common stockholders - basic: |
$ 1.40
|
$ 1.23
|
$ 1.37
|
| Per common share attributable to common stockholders - diluted: |
$ 1.39
|
$ 1.22
|
$ 1.37
|