Toronto Dominion Bank reduced its stake in Liberty Property Trust (NYSE:LPT) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,096 shares of the real estate investment trust’s stock after selling 3,520 shares during the period. Toronto Dominion Bank’s holdings in Liberty Property Trust were worth $1,155,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Liberty Property Trust by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 1,968,261 shares of the real estate investment trust’s stock worth $82,387,000 after buying an additional 133,477 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in Liberty Property Trust in the 1st quarter worth approximately $226,000. Laurion Capital Management LP purchased a new stake in Liberty Property Trust in the 1st quarter worth approximately $1,658,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Liberty Property Trust by 42.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 71,244 shares of the real estate investment trust’s stock worth $3,450,000 after buying an additional 21,142 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Liberty Property Trust by 4.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 218,898 shares of the real estate investment trust’s stock worth $10,599,000 after purchasing an additional 10,267 shares during the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.
In related news, SVP Mary Beth Morrissey sold 4,321 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $52.34, for a total value of $226,161.14. Following the transaction, the senior vice president now directly owns 53,300 shares in the company, valued at approximately $2,789,722. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.64 dividend on an annualized basis and a yield of 3.21%. Liberty Property Trust’s payout ratio is presently 74.55%.
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Liberty Property Trust from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Co increased their price target on shares of Liberty Property Trust from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $51.20.
Liberty Property Trust Company Profile
Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 108 million square foot operating portfolio provides productive work environments to 1,200 tenants.
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