One Liberty Properties Inc. reported its second-quarter 2025 financial results, revealing a 12.3% increase in rental income year-over-year, reaching $24.5 million. This growth was attributed to the net impact of acquisitions and dispositions in 2024 and 2025, as well as an increase in same-store rental income from tenant reimbursements, lease amendments/extensions, and new lease activity. The company's total operating expenses for the second quarter of 2025 were $15.7 million, compared to $14.9 million in the same period of 2024. This rise was primarily due to higher real estate expenses, which are often rebilled to tenants and included in rental income, along with increased depreciation and amortization expenses related to properties acquired in the preceding years. Net income attributable to One Liberty stood at $8.4 million, or $0.39 per diluted share, for the second quarter of 2025, down from $9.6 million, or $0.45 per diluted share, in the second quarter of 2024. The company also reported higher net expenses of $5.9 million for the quarter, compared to $4.7 million in 2024, mainly due to increased interest expenses resulting from a higher weighted average principal balance of debt and elevated interest rates. In terms of business operations, One Liberty continued to transition towards a more industrial-focused portfolio, entering into an agreement to add another industrial property while completing the sale of three non-industrial assets. This strategic shift aims to enhance cash flow stability and uncover opportunities for accretive growth and value enhancement for stockholders.