ValuEngine upgraded shares of Liberty Property Trust (NYSE:LPT) from a hold rating to a buy rating in a report issued on Friday morning.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Liberty Property Trust from a buy rating to a hold rating in a research note on Monday, September 4th. KeyCorp reiterated a hold rating on shares of Liberty Property Trust in a research note on Tuesday, October 24th. Stifel Nicolaus reiterated a buy rating and set a $44.00 price objective on shares of Liberty Property Trust in a research note on Thursday, September 21st. Finally, Sandler O’Neill upgraded Liberty Property Trust from a sell rating to a hold rating and set a $45.00 price objective for the company in a research note on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Liberty Property Trust currently has a consensus rating of Hold and an average target price of $44.17.
Liberty Property Trust (NYSE LPT) traded down $0.15 during trading on Friday, hitting $44.59. The company’s stock had a trading volume of 576,700 shares, compared to its average volume of 821,316. The company has a market cap of $6,573.37, a P/E ratio of 19.22, a P/E/G ratio of 2.91 and a beta of 0.87. Liberty Property Trust has a 1-year low of $36.22 and a 1-year high of $44.89. The company has a current ratio of 1.78, a quick ratio of 2.15 and a debt-to-equity ratio of 0.93.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.23). The firm had revenue of $193.65 million for the quarter, compared to the consensus estimate of $174.65 million. Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. equities research analysts forecast that Liberty Property Trust will post 2.56 EPS for the current fiscal year.
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Liberty Property Trust declared that its board has approved a share buyback program on Monday, October 2nd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Monday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.59%. Liberty Property Trust’s dividend payout ratio is presently 67.51%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its holdings in 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 lifted its holdings in 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. Spectrum Management Group Inc. purchased a new position in Liberty Property Trust in the 3rd quarter worth approximately $168,000. Gilbert & Cook Inc. purchased a new position in Liberty Property Trust in the 2nd quarter worth approximately $203,000. Finally, Emerald Advisers Inc. PA purchased a new position in Liberty Property Trust in the 3rd quarter worth approximately $208,000. 91.76% of the stock is currently owned by institutional investors.
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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