OLP — what changed in the latest 10-Q
A section-by-section comparison of OLP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +41 | −35 | ~23 | 44 |
| Market risk (Item 3) | Text added/removed | +1 | −4 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Other information | Text added/removed | +2 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
In acquiring and disposing of properties, among other things, we evaluate the terms of the leases, the credit of the existing tenants, the terms and conditions of the related financing arrangement (including any contemplated financing) and engage in a fundamental analysis of the real estate to be bo…
Our Base Rent is approximately $84.0 million; Base Rent represents the base rent payable to us during the twelve months ending June 30, 2027 under leases in effect at July 1, 2026 (excluding tenant reimbursements and after giving effect to any abatements, concessions, deferrals or adjustments). It e…
The following table sets forth information about our properties by industry sector as of June 30, 2026:
(a)Our base rent, as reported in our Quarterly Report on Form 10-Q for the period ended June 30, 2025 was $75.4 million.
On April 30, 2026, we acquired a 14 acre land parcel for $800,000, which parcel is adjacent to a property we acquired in January 2026.
Text removed vs the prior filing · source: 10-Q · 2026-05-06
potentially catastrophic events such as acts of war and/or terrorism; and
In acquiring and disposing of properties, among other things, we evaluate the terms of the leases, the credit of the existing tenants, the terms and conditions of the related financing arrangement (including any contemplated financing) and engage in a fundamental analysis of the real estate to be bo…
other things, the estimated value of the property, local competition and demographics, and the ability to re-rent or dispose of the property on favorable terms upon lease expiration or early termination. In addition, in evaluating property sales, we take into account, among other things, the propert…
Our Base Rent is approximately $83.2 million; Base Rent represents the base rent payable to us during the twelve months ending March 31, 2027 under leases in effect at April 1, 2026 (excluding tenant reimbursements and after giving effect to any abatements, concessions, deferrals or adjustments). It…
The following table sets forth information about our properties by industry sector as of March 31, 2026:
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-05
Our variable mortgage debt primarily bears interest at fixed rates and accordingly, the effect of changes in interest rates would not impact the interest expense we incur under these mortgages.
Text removed vs the prior filing · source: 10-Q · 2026-05-06
We use interest rate swaps to limit interest rate risk on substantially all variable rate mortgages. These swaps are used for hedging purposes - not for speculation. We do not enter into interest rate swaps for trading purposes. At March 31, 2026, we had no liability in the event of the early termin…
At March 31, 2026, we had two interest rate swap agreements outstanding. The fair market value of the interest rate swaps is dependent upon existing market interest rates and swap spreads, which change over time. As of March 31, 2026, if there had been an increase of 100 basis points in forward inte…
Our variable mortgage debt, after giving effect to the interest rate swap agreements, primarily bears interest at fixed rates and accordingly, the effect of changes in interest rates would not impact the interest expense we incur under these mortgages.
Our variable rate credit facility is sensitive to interest rate changes. Based on the $32.0 million outstanding balance under this facility at March 31, 2026, a 100 basis point increase of the interest rate would increase our related interest costs over the next twelve months by approximately $320,0…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-05
On June 23, 2026, we awarded an aggregate of 90,750 shares subject to restricted stock units (“RSUs”), and related dividend equivalent rights. Generally, the awards vest in 2029 subject to the satisfaction of, among other things, market and performance conditions similar to the conditions applicable…
On August 5, 2026, we determined that the performance and market conditions with respect to the vesting of 75,430 of the 85,250 RSUs awarded in 2023 had been met as of June 30, 2026, and authorized the issuance of 75,430 shares of common stock. We anticipate paying the holders of the RSUs an aggrega…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice