Liberty Property Trust (LPT) Reaches New 1-Year High at $41.31
Liberty Property Trust (NYSE:LPT) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $41.31 and last traded at $41.01, with a volume of 217,536 shares changing hands. The stock had previously closed at $40.87.
LPT has been the subject of a number of analyst reports. Stifel Nicolaus raised Liberty Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. They noted that the move was a valuation call. TheStreet raised Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Wednesday, April 6th. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, June 20th. BMO Capital Markets reissued a “hold” rating on shares of Liberty Property Trust in a report on Thursday, April 28th. Finally, Citigroup Inc. boosted their price target on Liberty Property Trust from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.50.
The company has a 50 day moving average of $39.18 and a 200 day moving average of $33.98. The stock has a market capitalization of $6.03 billion and a PE ratio of 23.085.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $190.14 million for the quarter, compared to analysts’ expectations of $195.65 million. During the same quarter in the prior year, the business earned $0.70 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, equities analysts predict that Liberty Property Trust will post $2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were paid a dividend of $0.475 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.65%.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Liberty Property Trust by 36.5% in the fourth quarter. Sei Investments Co. now owns 63,684 shares of the real estate investment trust’s stock worth $1,977,000 after buying an additional 17,029 shares in the last quarter. Rhumbline Advisers increased its position in Liberty Property Trust by 1.4% in the fourth quarter. Rhumbline Advisers now owns 236,326 shares of the real estate investment trust’s stock worth $7,338,000 after buying an additional 3,187 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Liberty Property Trust by 421.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 56,547 shares of the real estate investment trust’s stock worth $1,755,000 after buying an additional 45,704 shares in the last quarter. ProShare Advisors LLC increased its position in Liberty Property Trust by 10.8% in the fourth quarter. ProShare Advisors LLC now owns 67,011 shares of the real estate investment trust’s stock worth $2,081,000 after buying an additional 6,532 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Liberty Property Trust by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 21,318,656 shares of the real estate investment trust’s stock worth $661,945,000 after buying an additional 515,645 shares in the last quarter.
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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