One Liberty Properties reports $1.1 million net income for Q3 2026

Item 1. Financial Statements

ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

(Amounts in Thousands, Except Par Value)

September 30,

December 31,

2026

2025

ASSETS

(Unaudited)

Real estate investments, at cost

Land

$

152,488

$

153,143

Buildings and improvements

834,471

819,114

Total real estate investments, at cost

986,959

972,257

Less accumulated depreciation

192,027

194,663

Real estate investments, net⁴

794,932⁴

777,594

Properties held-for-sale⁴

7,419⁴

—

Cash and cash equivalents

20,117

14,434

Unbilled rent receivable

17,753

17,269

Unamortized intangible lease assets, net

24,930

25,501

Escrow, deposits and other assets and receivables

15,338

22,772

Total assets (1)²

$²

880,489²

$

857,570

LIABILITIES AND EQUITY

Liabilities:

Mortgages payable, net (see Note 6)

$

533,411

$

517,342

Line of credit

10,000

—

Dividends payable

10,250

10,214

Accrued expenses and other liabilities

16,858

17,271

Unamortized intangible lease liabilities, net

12,702

12,946

Total liabilities (1)³

583,221³

557,773

Commitments and contingencies

Equity:

One Liberty Properties, Inc. stockholders' equity:

Preferred stock, $ 1 par value; 12,500 shares authorized; none issued

—

—

Common stock, $ 1 par value; 50,000 shares authorized;

21,156 and 20,916 shares issued and outstanding

21,156

20,916

Paid-in capital

345,469

341,389

Accumulated other comprehensive income

—

16

Distributions in excess of net income

( 69,544 )

( 62,718 )

Total One Liberty Properties, Inc. stockholders' equity

297,081

299,603

Non-controlling interest in consolidated joint venture (1)

187

194

Total equity³

297,268³

299,797

Total liabilities and equity

$

880,489

$

857,570

(1) The Company's consolidated balance sheets include assets and liabilities of a consolidated variable interest entity ("VIE"). See Note 7. The consolidated balance sheets include the following amounts related to the Company's consolidated VIE: $ 3,815 and $ 3,815 of land, $ 6,108 and $ 6,332 of building and improvements, net of $ 3,439 and $ 3,215 of accumulated depreciation, $ 645 and $ 637 of other assets included in other line items, $ 6,893 and $ 7,143 of real estate debt, net, $ 147 and $ 73 of other liabilities included in other line items and $ 187 and $ 194 of non-controlling interest as of September 30, 2026 and December 31, 2025, respectively.

See accompanying notes to consolidated financial statements .

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Table of Contents

ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME

(Amounts in Thousands, Except Per Share Data)

(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Revenues:

Rental income, net⁵

$⁵

26,602⁵

$

23,771

$

80,565

$

72,420

Lease termination fees

—

—

1,327

66

Total revenues⁵

26,602⁵

23,771

81,892

72,486

Operating expenses:

Depreciation and amortization

8,311

6,698

25,339

20,070

Real estate expenses (see Note 11 for related party information)

5,281

4,824

15,922

14,753

General and administrative (see Note 11 for related party information)

4,288

4,128

12,616

12,236

Impairment losses

1,422

1,300

1,564

1,300

State tax expense

30

29

210

2

Total operating expenses

19,332

16,979

55,651

48,361

Other operating income

Gain on sale of real estate, net

887

9,071

18,196

16,712

Operating income⁶

8,157⁶

15,863

44,437

40,837

Other income and expenses:

Other income

53

109

103

511

Equity in earnings from sale of unconsolidated joint venture properties

—

991

—

991

Interest:

Expense

( 6,795 )

( 5,617 )

( 20,613 )

( 16,896 )

Amortization and write-off of deferred financing costs

( 311 )

( 241 )

( 918 )

( 751 )

Net income¹

1,104¹

11,105

23,009

24,692

Net income attributable to non-controlling interests

( 8 )

( 627 )

( 18 )

( 1,628 )

Net income attributable to One Liberty Properties, Inc.⁶

$⁶

1,096⁶

$

10,478

$

22,991

$

23,064

Weighted average number of common shares outstanding:

Basic

21,126

20,883

21,085

20,852

Diluted

21,168

20,946

21,141

20,916

Earnings per common share attributable to common stockholders:

Basic

$

.04

$

.48

$

1.04

$

1.06

Diluted

$

.04

$

.48

$

1.04

$

1.05

Cash distributions per share of common stock

$

.45

$

.45

$

1.35

$

1.35

See accompanying notes to consolidated financial statements.

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ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in Thousands)

(Unaudited)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2026

2025

2026

2025

Net income

$

1,104

$

11,105

$

23,009

$

24,692

Other comprehensive income

Net unrealized loss on derivative instruments

—

( 27 )

( 16 )

( 163 )

Comprehensive income

1,104

11,078

22,993

24,529

Net income attributable to non-controlling interests

( 8 )

( 627 )

( 18 )

( 1,628 )

Comprehensive income attributable to One Liberty Properties, Inc.

$

1,096

$

10,451

$

22,975

$

22,901

See accompanying notes to consolidated financial statements.

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ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Amounts in Thousands, Except Per Share Data)

(Unaudited) (Continued on Next Page)

Accumulated

Accumulated

Non-Controlling

Other

Distributions

Interests in Common

Paid-in

Comprehensive in Excess of Consolidated

Stock

Capital

Income (loss)

Net Income

Joint Ventures

Total

Balances, December 31, 2025

$

20,916

$

341,389

$

16

$

( 62,718 )

$

194

$

299,797

Cash distributions — common stock ( $ .45 per share)

—

—

—

( 9,872 )

—

( 9,872 )

Compensation expense — restricted stock and RSUs

—

1,267

—

—

—

1,267

Shares issued through dividend reinvestment plan

7

135

—

—

—

142

Restricted stock vesting

146

( 146 )

—

—

—

—

Distribution to non-controlling interest

—

—

—

—

( 8 )

( 8 )

Net income

—

—

—

6,237

3

6,240

Other comprehensive loss

—

—

( 7 )

—

—

( 7 )

Balances, March 31, 2026

21,069

342,645

9

( 66,353 )

189

297,559

Cash distributions — common stock ( $ .45 per share)

—

—

—

( 9,989 )

—

( 9,989 )

Compensation expense — restricted stock and RSUs

—

1,247

—

—

—

1,247

Shares issued through dividend reinvestment plan

6

129

—

—

—

135

Distribution to non-controlling