Liberty Property Trust (LPT) Hits New 12-Month High at $42.97
Shares of Liberty Property Trust (NYSE:LPT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.97 and last traded at $42.95, with a volume of 134,002 shares changing hands. The stock had previously closed at $42.73.
Several brokerages have issued reports on LPT. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Liberty Property Trust in a research report on Friday, August 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a research report on Thursday, July 6th. Finally, BidaskClub cut Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.60.
The firm has a market capitalization of $6.33 billion, a PE ratio of 18.37 and a beta of 0.88. The company’s 50 day moving average is $41.83 and its 200 day moving average is $40.76.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $183.13 million during the quarter, compared to the consensus estimate of $175.60 million. Liberty Property Trust had a net margin of 47.24% and a return on equity of 11.37%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Equities research analysts expect that Liberty Property Trust will post $1.24 earnings per share for the current year.
Several large investors have recently bought and sold shares of LPT. Robecosam AG grew its stake in shares of Liberty Property Trust by 107.7% in the first quarter. Robecosam AG now owns 2,700 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 1,400 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Liberty Property Trust by 3.9% during the second quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 98 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Liberty Property Trust by 4.8% during the second quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 143 shares in the last quarter. First Quadrant L P CA acquired a new position in shares of Liberty Property Trust during the first quarter worth $136,000. Finally, Gilbert & Cook Inc. acquired a new position in shares of Liberty Property Trust during the second quarter worth $203,000. Institutional investors and hedge funds own 91.67% of the company’s stock.
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About Liberty Property Trust
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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