Liberty Property Trust (LPT) Cut to Sell at Zacks Investment Research
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.”
A number of other research analysts have also weighed in 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 research note on Tuesday, October 4th. Morgan Stanley began coverage on shares of Liberty Property Trust in a research note on Tuesday, September 6th. They issued an equal weight rating and a $38.00 price target on the stock. BTIG Research started coverage on shares of Liberty Property Trust in a research note on Thursday, August 25th. They issued a neutral rating on the stock. Finally, Citigroup Inc. lifted their price objective on shares of Liberty Property Trust from $34.00 to $41.00 and gave the company a neutral rating in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $37.57.
Shares of Liberty Property Trust (NYSE:LPT) opened at 38.57 on Wednesday. The company has a market capitalization of $5.66 billion, a P/E ratio of 20.46 and a beta of 0.97. The firm has a 50-day moving average of $40.37 and a 200-day moving average of $38.15. Liberty Property Trust has a one year low of $26.94 and a one year high of $42.26.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the Zacks’ 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 had revenue of $186.65 million for the quarter, compared to analyst estimates of $191.42 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts expect that Liberty Property Trust will post $2.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.94%. Liberty Property Trust’s payout ratio is 101.06%.
A number of institutional investors have recently modified their holdings of LPT. Tower Research Capital LLC TRC increased its position in shares of Liberty Property Trust by 35.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,736 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 723 shares during the last quarter. Fort Washington Investment Advisors Inc OH purchased a new position in shares of Liberty Property Trust during the second quarter worth $207,000. Baldwin Investment Management LLC purchased a new position in shares of Liberty Property Trust during the second quarter worth $209,000. Hancock Holding Co. purchased a new position in shares of Liberty Property Trust during the second quarter worth $225,000. Finally, Jane Street Group LLC purchased a new position in shares of Liberty Property Trust during the second quarter worth $233,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
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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