First Citizens Bank & Trust Co. raised its stake in Liberty Property Trust (NYSE:LPT) by 41.2% during the second quarter, Holdings Channel reports. The firm owned 12,088 shares of the real estate investment trust’s stock after buying an additional 3,529 shares during the period. First Citizens Bank & Trust Co.’s holdings in Liberty Property Trust were worth $480,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Genesee Valley Trust Co. raised its position in Liberty Property Trust by 2.9% in the second quarter. Genesee Valley Trust Co. now owns 7,222 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 205 shares in the last quarter. Oakbrook Investments LLC raised its position in Liberty Property Trust by 12.1% in the second quarter. Oakbrook Investments LLC now owns 7,402 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 800 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Liberty Property Trust by 7.3% in the second quarter. Daiwa Securities Group Inc. now owns 10,300 shares of the real estate investment trust’s stock valued at $409,000 after buying an additional 700 shares in the last quarter. Prudential PLC raised its position in Liberty Property Trust by 44.4% in the first quarter. Prudential PLC now owns 10,400 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 3,200 shares in the last quarter. Finally, Huntington National Bank purchased a new position in Liberty Property Trust during the second quarter valued at $488,000. 97.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Liberty Property Trust (NYSE:LPT) traded down 0.30% on Friday, reaching $39.91. 727,591 shares of the company were exchanged. The company’s 50 day moving average is $40.19 and its 200 day moving average is $38.35. The firm has a market capitalization of $5.86 billion, a PE ratio of 21.17 and a beta of 0.97. Liberty Property Trust has a 12-month low of $26.94 and a 12-month high of $42.26.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business earned $186.65 million during the quarter, compared to analysts’ expectations of $191.42 million. Liberty Property Trust had a net margin of 35.96% and a return on equity of 9.36%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the company posted $0.67 earnings per share. Analysts forecast that Liberty Property Trust will post $2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, September 29th. Liberty Property Trust’s payout ratio is 101.06%.
Several research analysts have recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $38.00 price objective on shares of Liberty Property Trust in a research note on Tuesday, September 6th. BTIG Research assumed coverage on shares of Liberty Property Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Capital One Financial Corp. upgraded shares of Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 price objective on the stock in a research note on Tuesday, October 4th. Citigroup Inc. boosted their price objective on shares of Liberty Property Trust from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, Zacks Investment Research lowered shares of Liberty Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $37.57.
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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