Jefferies Group LLC reduced its holdings in shares of Liberty Property Trust (NYSE:LPT) by 56.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,236 shares of the real estate investment trust’s stock after selling 23,426 shares during the period. Jefferies Group LLC’s holdings in Liberty Property Trust were worth $770,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in Liberty Property Trust by 13.9% during the third quarter. Renaissance Technologies LLC now owns 531,190 shares of the real estate investment trust’s stock valued at $22,443,000 after buying an additional 64,990 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Liberty Property Trust by 23.9% during the third quarter. Riverhead Capital Management LLC now owns 20,238 shares of the real estate investment trust’s stock valued at $855,000 after buying an additional 3,900 shares during the last quarter. Schwerin Boyle Capital Management Inc. purchased a new stake in Liberty Property Trust during the third quarter valued at approximately $2,461,000. Tower Research Capital LLC TRC increased its holdings in Liberty Property Trust by 21.1% during the third quarter. Tower Research Capital LLC TRC now owns 13,452 shares of the real estate investment trust’s stock valued at $569,000 after buying an additional 2,340 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Liberty Property Trust by 1,467.0% during the third quarter. Allianz Asset Management GmbH now owns 306,301 shares of the real estate investment trust’s stock valued at $12,941,000 after buying an additional 286,754 shares during the last quarter. 91.38% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on LPT shares. ValuEngine cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Zacks Investment Research cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, Mitsubishi UFJ Financial Group reduced their price objective on shares of Liberty Property Trust from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.67.
In other news, CAO Mary Beth Morrissey sold 6,843 shares of the stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $45.52, for a total value of $311,493.36. Following the completion of the sale, the chief accounting officer now directly owns 73,778 shares of the company’s stock, valued at $3,358,374.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
Shares of NYSE LPT opened at $46.33 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $6.85 billion, a PE ratio of 17.10, a PEG ratio of 2.92 and a beta of 0.63. Liberty Property Trust has a 1 year low of $37.77 and a 1 year high of $46.91.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.36. The firm had revenue of $121.51 million during the quarter, compared to analysts’ expectations of $119.79 million. Liberty Property Trust had a net margin of 59.89% and a return on equity of 6.68%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, research analysts predict that Liberty Property Trust will post 2.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 61.78%.
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Liberty Property Trust Profile
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of industrial and office properties. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
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