According to Zacks, “Liberty Property recently closed the sale of 108 properties in five markets for $969 million. Majority of them were suburban offices and flex non-core assets. In fact, with this sale, its share of total dispositions reached $1.2 billion so far this year. Notably, the company has been concentrating on divesting its non-core assets and using the proceeds for gaining preferred properties across the U.S. The company is also focusing on industrial portfolio expansion. However, the near-term dilution effect of sale of assets on earnings is unavoidable. Moreover, operational risks associated with huge construction pipeline and any rise in interest rates remains as concerns.”
LPT has been the subject of several other research reports. BTIG Research started coverage on shares of Liberty Property Trust in a research note on Thursday, August 25th. They issued a neutral rating for the company. Morgan Stanley started coverage on shares of Liberty Property Trust in a report on Tuesday, September 6th. They issued an equal weight rating and a $38.00 price target on the stock. Capital One Financial Corp. raised shares of Liberty Property Trust from an equal weight rating to an overweight rating and set a $41.00 price target on the stock in a report on Tuesday. Finally, Citigroup Inc. boosted their price target on shares of Liberty Property Trust from $34.00 to $41.00 and gave the stock a neutral rating in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $37.57.
Liberty Property Trust (NYSE:LPT) traded up 1.04% during trading on Wednesday, reaching $38.97. 498,247 shares of the company’s stock traded hands. Liberty Property Trust has a 52-week low of $26.94 and a 52-week high of $42.26. The company’s 50 day moving average is $40.47 and its 200-day moving average is $38.10. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 20.67 and a beta of 0.97.
Liberty Property Trust (NYSE:LPT) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Liberty Property Trust had a net margin of 35.96% and a return on equity of 9.36%. The firm earned $186.65 million during the quarter, compared to analyst estimates of $191.42 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. On average, analysts anticipate that Liberty Property Trust will post $2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, September 29th. Liberty Property Trust’s dividend payout ratio (DPR) is presently 101.06%.
A number of large investors have recently added to or reduced their stakes in LPT. Macquarie Group Ltd. boosted its stake in shares of Liberty Property Trust by 1,026.7% in the second quarter. Macquarie Group Ltd. now owns 423,656 shares of the real estate investment trust’s stock valued at $16,828,000 after buying an additional 386,056 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Liberty Property Trust by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 25,313 shares of the real estate investment trust’s stock valued at $1,005,000 after buying an additional 87 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Liberty Property Trust during the second quarter valued at $2,656,000. Royal Bank of Canada boosted its stake in shares of Liberty Property Trust by 4.6% in the second quarter. Royal Bank of Canada now owns 2,978,651 shares of the real estate investment trust’s stock valued at $118,312,000 after buying an additional 131,400 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Liberty Property Trust by 13.9% in the second quarter. IFP Advisors Inc now owns 8,179 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 995 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors and hedge funds.
Liberty Property Trust Company Profile
Liberty Property Trust is a real estate investment trust. The Company’s operations are primarily conducted by its subsidiary, Liberty Property Limited Partnership. Its segments include Carolinas; Chicago/Milwaukee; Houston, Lehigh/Central PA; Minnesota; Orlando; Philadelphia; Richmond/Hampton Roads; Southeastern PA; South Florida; Tampa; United Kingdom, and Other, which includes Arizona, Atlanta, Cincinnati/Columbus/Indianapolis, Dallas, Maryland, New Jersey, Northern Virginia, Southern California, Washington DC and other segments.
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