BlackRock Advisors LLC cut its position in Liberty Property Trust (NYSE:LPT) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 192,669 shares of the real estate investment trust’s stock after selling 4,744 shares during the period. BlackRock Advisors LLC owned about 0.13% of Liberty Property Trust worth $7,653,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of LPT. Vanguard Group Inc. increased its position in Liberty Property Trust by 3.0% in the second quarter. Vanguard Group Inc. now owns 22,413,684 shares of the real estate investment trust’s stock worth $890,271,000 after buying an additional 653,616 shares during the period. State Street Corp increased its position in shares of Liberty Property Trust by 3.5% in the first quarter. State Street Corp now owns 7,844,501 shares of the real estate investment trust’s stock worth $262,476,000 after buying an additional 268,863 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Liberty Property Trust by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 5,485,462 shares of the real estate investment trust’s stock worth $217,884,000 after buying an additional 269,662 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Liberty Property Trust by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,058,576 shares of the real estate investment trust’s stock worth $169,261,000 after buying an additional 237,477 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Liberty Property Trust by 4.7% in the first quarter. Nuveen Asset Management LLC now owns 4,551,846 shares of the real estate investment trust’s stock worth $152,305,000 after buying an additional 204,715 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Liberty Property Trust (NYSE:LPT) opened at 39.23 on Thursday. The firm’s 50-day moving average is $40.22 and its 200 day moving average is $38.29. Liberty Property Trust has a 52-week low of $26.94 and a 52-week high of $42.26. The stock has a market capitalization of $5.76 billion, a PE ratio of 20.81 and a beta of 0.97.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The company earned $186.65 million during the quarter, compared to the consensus estimate of $191.42 million. Liberty Property Trust had a return on equity of 9.36% and a net margin of 35.96%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. On average, equities analysts forecast that Liberty Property Trust will post $2.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.84%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 101.06%.
A number of equities analysts have commented on LPT shares. Morgan Stanley started coverage on Liberty Property Trust in a research note on Tuesday, September 6th. They issued an “equal weight” rating and a $38.00 target price for the company. Zacks Investment Research downgraded Liberty Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Citigroup Inc. boosted their price objective on Liberty Property Trust from $34.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Capital One Financial Corp. upgraded Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 price objective for the company in a research report on Tuesday, October 4th. Finally, BTIG Research started coverage on Liberty Property Trust in a report on Thursday, August 25th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.57.
About Liberty Property Trust
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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