Victory Capital Management Inc. trimmed its position in Liberty Property Trust (NYSE:LPT) by 27.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,007 shares of the real estate investment trust’s stock after selling 4,235 shares during the quarter. Victory Capital Management Inc.’s holdings in Liberty Property Trust were worth $473,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPT. Cohen & Steers Inc. acquired a new stake in Liberty Property Trust in the third quarter worth approximately $43,659,000. Systematic Financial Management LP lifted its position in Liberty Property Trust by 164.4% in the third quarter. Systematic Financial Management LP now owns 1,363,223 shares of the real estate investment trust’s stock worth $55,974,000 after purchasing an additional 847,603 shares during the period. PGGM Investments lifted its position in Liberty Property Trust by 16.6% in the fourth quarter. PGGM Investments now owns 3,493,330 shares of the real estate investment trust’s stock worth $150,248,000 after purchasing an additional 496,330 shares during the period. Canada Pension Plan Investment Board lifted its position in Liberty Property Trust by 891.4% in the third quarter. Canada Pension Plan Investment Board now owns 439,200 shares of the real estate investment trust’s stock worth $18,034,000 after purchasing an additional 394,900 shares during the period. Finally, Prudential Financial Inc. lifted its position in Liberty Property Trust by 50.8% in the third quarter. Prudential Financial Inc. now owns 983,042 shares of the real estate investment trust’s stock worth $40,364,000 after purchasing an additional 331,010 shares during the period. Hedge funds and other institutional investors own 91.67% of the company’s stock.
Shares of Liberty Property Trust (NYSE:LPT) opened at $40.18 on Tuesday. Liberty Property Trust has a 52-week low of $37.21 and a 52-week high of $45.40. The company has a market capitalization of $5,930.63, a price-to-earnings ratio of 21.04, a PEG ratio of 2.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.78 and a current ratio of 1.50.
In other Liberty Property Trust news, Director David L. Lingerfelt sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $44.56, for a total transaction of $802,080.00. Following the sale, the director now directly owns 56,814 shares of the company’s stock, valued at approximately $2,531,631.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on LPT shares. Zacks Investment Research downgraded Liberty Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Morgan Stanley increased their price objective on Liberty Property Trust from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, December 15th. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a research report on Wednesday, February 7th. JPMorgan Chase & Co. downgraded Liberty Property Trust from a “neutral” rating to an “underweight” rating and set a $41.00 price objective for the company. in a research report on Friday, December 15th. Finally, SunTrust Banks upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Liberty Property Trust presently has an average rating of “Hold” and a consensus target price of $43.67.
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Liberty Property Trust Profile
Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust (REIT). The Trust’s assets are owned directly or indirectly, and substantially all of the Trust’s operations are conducted directly or indirectly, by its subsidiary, Liberty Property Limited Partnership (the Operating Partnership).
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