XML 47 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental income, net $ 14,396 $ 11,981 $ 28,798 $ 23,843
Lease termination fee 1,269   1,269  
Total revenues 15,665 11,981 30,067 23,843
Operating expenses:        
Depreciation and amortization 3,723 2,681 7,300 5,315
General and administrative (including $610, $572, $1,219 and $1,144, respectively, to related party) 2,134 1,944 4,344 3,904
Federal excise and state taxes 107 184 169 226
Real estate expenses (including $212, $150, $425 and $300 respectively, to related party) 877 751 1,976 1,523
Leasehold rent 77 77 154 154
Real estate acquisition costs 88 126 128 277
Total operating expenses 7,006 5,763 14,071 11,399
Operating income 8,659 6,218 15,996 12,444
Other income and expenses:        
Equity in earnings of unconsolidated joint ventures 130 57 263 391
Gain on disposition of real estate held by unconsolidated joint venture   2,807   2,807
Gain on sale - unconsolidated joint venture interest   1,898   1,898
Gain on sale - investment in BRT Realty Trust (related party) 134   134  
Other income 2 11 10 80
Interest:        
Expense (4,035) (3,158) (7,988) (6,261)
Amortization of deferred financing costs (228) (226) (466) (439)
Income from continuing operations 4,662 7,607 7,949 10,920
Income from discontinued operations   145 13 281
Net income 4,662 7,752 7,962 11,201
Less: net income attributable to non-controlling interests (22) (16) (49) (15)
Net income attributable to One Liberty Properties, Inc. $ 4,640 $ 7,736 $ 7,913 $ 11,186
Weighted average number of common shares outstanding:        
Basic (in shares) 15,518 14,844 15,436 14,759
Diluted (in shares) 15,618 14,944 15,536 14,859
Per common share attributable to common stockholders - basic:        
Income from continuing operations (in dollars per share) $ 0.29 $ 0.50 $ 0.49 $ 0.71
Income from discontinued operations (in dollars per share)   $ 0.01   $ 0.02
Total per common share attributable to common stockholders - basic (in dollars per share) $ 0.29 $ 0.51 $ 0.49 $ 0.73
Per common share attributable to common stockholders - diluted:        
Income from continuing operations (in dollars per share) $ 0.29 $ 0.49 $ 0.49 $ 0.71
Income from discontinued operations (in dollars per share)   $ 0.01   $ 0.02
Total per common share attributable to common stockholders - diluted (in dollars per share) $ 0.29 $ 0.50 $ 0.49 $ 0.73
Cash distributions declared per share of common stock (in dollars per share) $ 0.37 $ 0.35 $ 0.74 $ 0.70