Liberty Property Trust (NYSE:LPT) had its price target raised by research analysts at Stifel Nicolaus from $44.00 to $46.00 in a note issued to investors on Wednesday, October 25th, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 3.16% from the company’s previous close.
LPT has been the topic of several other reports. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, August 24th. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Liberty Property Trust currently has an average rating of “Hold” and an average price target of $44.17.
Shares of Liberty Property Trust (NYSE:LPT) opened at $44.59 on Wednesday. The firm has a market capitalization of $6,573.37, a price-to-earnings ratio of 19.22, a PEG ratio of 2.91 and a beta of 0.87. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.15 and a current ratio of 1.78. Liberty Property Trust has a one year low of $36.22 and a one year high of $44.89.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.23). The company had revenue of $193.65 million for the quarter, compared to the consensus estimate of $174.65 million. Liberty Property Trust had a return on equity of 11.41% and a net margin of 47.78%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. research analysts anticipate that Liberty Property Trust will post 2.56 earnings per share for the current year.
Liberty Property Trust announced that its board has authorized a share repurchase plan on Monday, October 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harrington Investments INC bought a new position in shares of Liberty Property Trust in the third quarter valued at approximately $834,000. State Treasurer State of Michigan raised its stake in shares of Liberty Property Trust by 1.7% in the second quarter. State Treasurer State of Michigan now owns 60,700 shares of the real estate investment trust’s stock valued at $2,471,000 after acquiring an additional 1,000 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Liberty Property Trust by 3.0% in the second quarter. Pacer Advisors Inc. now owns 27,095 shares of the real estate investment trust’s stock valued at $1,103,000 after acquiring an additional 792 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Liberty Property Trust by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock valued at $152,125,000 after acquiring an additional 649,069 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Liberty Property Trust by 3.5% in the second 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 acquiring an additional 1,300 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.
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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