Northern Trust Corp boosted its position in shares of Liberty Property Trust (NYSE:LPT) by 0.9% during the 1st quarter, HoldingsChannel reports. The firm owned 2,425,855 shares of the real estate investment trust’s stock after buying an additional 20,799 shares during the quarter. Northern Trust Corp’s holdings in Liberty Property Trust were worth $117,460,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LPT. Vanguard Group Inc boosted its stake in shares of Liberty Property Trust by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 21,713,904 shares of the real estate investment trust’s stock valued at $917,412,000 after buying an additional 98,884 shares during the period. BlackRock Inc. lifted its position in shares of Liberty Property Trust by 2.4% during the fourth quarter. BlackRock Inc. now owns 20,474,937 shares of the real estate investment trust’s stock worth $857,491,000 after purchasing an additional 478,128 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Liberty Property Trust by 81.8% during the fourth quarter. Cohen & Steers Inc. now owns 6,274,563 shares of the real estate investment trust’s stock worth $262,779,000 after purchasing an additional 2,823,846 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Liberty Property Trust by 108.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,979,397 shares of the real estate investment trust’s stock worth $208,537,000 after purchasing an additional 2,592,559 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Liberty Property Trust by 100.9% during the fourth quarter. Principal Financial Group Inc. now owns 2,738,079 shares of the real estate investment trust’s stock worth $114,672,000 after purchasing an additional 1,375,253 shares in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.
In related news, CAO Mary Beth Morrissey sold 5,870 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $49.97, for a total value of $293,323.90. Following the transaction, the chief accounting officer now directly owns 57,621 shares in the company, valued at $2,879,321.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Shares of NYSE LPT opened at $50.17 on Friday. Liberty Property Trust has a fifty-two week low of $39.82 and a fifty-two week high of $50.48. The company has a market capitalization of $7.36 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.92.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Liberty Property Trust had a net margin of 57.53% and a return on equity of 4.61%. The business had revenue of $156.89 million for the quarter, compared to analyst estimates of $126.10 million. During the same period in the prior year, the business posted $0.65 earnings per share. Liberty Property Trust’s revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Liberty Property Trust will post 2.59 EPS for the current fiscal year.
LPT has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, April 9th. Goldman Sachs Group assumed coverage on shares of Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Liberty Property Trust currently has a consensus rating of “Hold” and an average target price of $46.57.
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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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