Cubist Systematic Strategies LLC lifted its position in Liberty Property Trust (NYSE:LPT) by 538.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,709 shares of the real estate investment trust’s stock after purchasing an additional 30,955 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Liberty Property Trust were worth $1,494,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of LPT. Advisor Group Inc. boosted its holdings in shares of Liberty Property Trust by 3.9% in the 2nd 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 boosted its holdings in shares of Liberty Property Trust by 4.8% in the 2nd 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. Gilbert & Cook Inc. purchased a new position in shares of Liberty Property Trust in the 2nd quarter worth about $203,000. Virtu KCG Holdings LLC purchased a new position in shares of Liberty Property Trust in the 2nd quarter worth about $212,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Liberty Property Trust by 25.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,736 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.
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Liberty Property Trust (NYSE LPT) traded down 0.17% during midday trading on Thursday, reaching $41.90. The company’s stock had a trading volume of 44,942 shares. The company’s 50-day moving average is $42.12 and its 200 day moving average is $41.32. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 17.92 and a beta of 0.88. Liberty Property Trust has a 12-month low of $36.22 and a 12-month high of $43.70.
Liberty Property Trust (NYSE:LPT) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Liberty Property Trust had a return on equity of 11.37% and a net margin of 47.24%. The business had revenue of $183.13 million during the quarter, compared to analyst estimates of $175.60 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts forecast that Liberty Property Trust will post $1.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.81%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 68.38%.
Liberty Property Trust announced that its Board of Directors has initiated a share repurchase plan on Monday, October 2nd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
A number of research firms have recently issued reports on LPT. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. Stifel Nicolaus restated a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a report on Thursday, September 21st. Finally, BidaskClub cut Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.60.
Liberty Property Trust Company 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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