ONE LIBERTY PROPERTIES Business Summary

One Liberty Properties Inc. (OLP) is a self-administered and self-managed real estate investment trust (REIT) that generates revenue primarily through rental income derived from a geographically diversified portfolio of single-tenant properties. The company utilizes a triple-net lease model, shifting responsibilities for maintenance, insurance, and taxes to tenants, which provides a predictable cash flow stream. Its primary business segments are heavily weighted toward industrial assets, which account for approximately 75% of its base rent, followed by a secondary focus on retail properties including shopping centers and restaurants. OLP competes directly with other net-lease and industrial-focused REITs such as Gladstone Commercial (GOOD), STAG Industrial (STAG), LXP Industrial Trust (LXP), and NNN REIT (NNN), positioning itself as a specialized small-cap player that prioritizes long-term lease stability and contractual rent increases with creditworthy tenants. The company’s leadership is defined by the long-standing involvement of the Gould family and a highly seasoned executive team with an average tenure exceeding 18 years. Patrick J. Callan Jr. has served as President and CEO since 2006, bringing over 40 years of real estate experience from senior roles at Kimco Realty and First Washington Realty. The financial strategy is overseen by CFO and Senior Vice President Isaac Kalish, while Lawrence G. Ricketts Jr. serves as Executive Vice President and COO. The board is led by Chairman Matthew J. Gould and Vice Chairman Fredric H. Gould, an industry veteran and founder of several affiliated real estate entities. A notable institutional stakeholder is Gould Investors L.P., which holds a significant ownership position of approximately 10.5%, aligning management interests with long-term shareholder value.