Jane Street Group LLC bought a new position in Liberty Property Trust (NYSE:LPT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,406 shares of the real estate investment trust’s stock, valued at approximately $263,000.
A number of other institutional investors also recently added to or reduced their stakes in LPT. Cohen & Steers Inc. purchased a new stake in Liberty Property Trust during the third quarter valued at $43,659,000. Asset Management One Co. Ltd. increased its position in Liberty Property Trust by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 562,888 shares of the real estate investment trust’s stock valued at $23,269,000 after acquiring an additional 6,532 shares during the last quarter. AMP Capital Investors Ltd increased its position in Liberty Property Trust by 31.5% during the third quarter. AMP Capital Investors Ltd now owns 150,263 shares of the real estate investment trust’s stock valued at $6,171,000 after acquiring an additional 36,000 shares during the last quarter. Allianz Asset Management GmbH increased its position in Liberty Property Trust by 59.5% during the third quarter. Allianz Asset Management GmbH now owns 112,316 shares of the real estate investment trust’s stock valued at $4,612,000 after acquiring an additional 41,885 shares during the last quarter. Finally, OxFORD Asset Management LLP increased its position in Liberty Property Trust by 416.2% during the third quarter. OxFORD Asset Management LLP now owns 55,828 shares of the real estate investment trust’s stock valued at $2,297,000 after acquiring an additional 45,013 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Liberty Property Trust (LPT) traded down $0.33 during trading on Friday, reaching $40.72. The company had a trading volume of 882,665 shares, compared to its average volume of 691,707. Liberty Property Trust has a 52 week low of $37.21 and a 52 week high of $45.40. The company has a market capitalization of $6,000.00, a price-to-earnings ratio of 17.18, a PEG ratio of 2.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.78 and a current ratio of 1.78.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates 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%. Liberty Property Trust’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. sell-side analysts predict that Liberty Property Trust will post 2.55 earnings per share for the current year.
Liberty Property Trust announced that its Board of Directors has authorized a stock repurchase 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. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, December 29th. Liberty Property Trust’s payout ratio is 67.51%.
In other news, Director David L. Lingerfelt sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.56, for a total value of $802,080.00. Following the completion of the sale, the director now directly owns 56,814 shares of the company’s stock, valued at approximately $2,531,631.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company insiders.
A number of analysts recently commented on LPT shares. Stifel Nicolaus upped their price objective on Liberty Property Trust from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target on shares of Liberty Property Trust in a research report on Thursday, December 14th. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research report on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Liberty Property Trust has an average rating of “Hold” and a consensus target price of $43.43.
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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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