Liberty Property Trust (NYSE:LPT)‘s stock had its “hold” rating restated by equities researchers at KeyCorp in a research note issued on Tuesday, October 24th.
Several other equities research analysts have also commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price target on shares of Liberty Property Trust in a research note on Thursday, September 21st. Zacks Investment Research lowered Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.17.
Liberty Property Trust (NYSE LPT) opened at $44.59 on Tuesday. 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 has a twelve month low of $36.22 and a twelve month high of $44.89. The stock has a market capitalization of $6,573.37, a PE ratio of 19.22, a P/E/G ratio of 2.91 and a beta of 0.87.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.23). Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. The business had revenue of $193.65 million during the quarter, compared to analysts’ expectations of $174.65 million. During the same period in the prior year, the firm posted $0.66 EPS. Liberty Property Trust’s revenue for the quarter was up 1.5% compared to the same quarter last year. analysts expect that Liberty Property Trust will post 2.56 EPS for the current year.
Liberty Property Trust announced that its board has approved a share repurchase program on Monday, October 2nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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Institutional investors have recently made changes to their positions in the stock. Harrington Investments INC purchased a new stake in Liberty Property Trust during the 3rd quarter worth $834,000. State Treasurer State of Michigan boosted its position in Liberty Property Trust by 1.7% during the 2nd quarter. State Treasurer State of Michigan now owns 60,700 shares of the real estate investment trust’s stock worth $2,471,000 after purchasing an additional 1,000 shares during the period. Pacer Advisors Inc. boosted its position in Liberty Property Trust by 3.0% during the 2nd quarter. Pacer Advisors Inc. now owns 27,095 shares of the real estate investment trust’s stock worth $1,103,000 after purchasing an additional 792 shares during the period. JPMorgan Chase & Co. boosted its position in Liberty Property Trust by 21.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock worth $152,125,000 after purchasing an additional 649,069 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Liberty Property Trust by 3.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,400 shares of the real estate investment trust’s stock valued at $1,563,000 after buying an additional 1,300 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other 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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