Liberty Property Trust (LPT) Issues Quarterly Earnings Results
Liberty Property Trust (NYSE:LPT) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03, Morningstar.com reports. The business had revenue of $183.13 million for the quarter, compared to the consensus estimate of $175.60 million. Liberty Property Trust had a net margin of 46.77% and a return on equity of 11.44%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share.
Shares of Liberty Property Trust (NYSE LPT) opened at 41.50 on Tuesday. The firm has a market capitalization of $6.11 billion, a PE ratio of 17.82 and a beta of 0.88. The stock has a 50 day moving average of $41.56 and a 200-day moving average of $40.17. Liberty Property Trust has a 12 month low of $36.22 and a 12 month high of $42.80.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Thursday, June 29th. Liberty Property Trust’s dividend payout ratio (DPR) is 68.67%.
Several research firms have issued reports on LPT. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a report on Thursday, July 6th. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Liberty Property Trust in a research report on Thursday, March 30th. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Wednesday, June 28th. Finally, BidaskClub cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Liberty Property Trust currently has an average rating of “Hold” and an average price target of $42.33.
Several large investors have recently added to or reduced their stakes in the company. PGGM Investments raised its stake in Liberty Property Trust by 2.4% in the second quarter. PGGM Investments now owns 2,858,000 shares of the real estate investment trust’s stock valued at $116,349,000 after buying an additional 68,000 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Liberty Property Trust by 14.9% in the second quarter. First Citizens Bank & Trust Co. now owns 12,443 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 1,612 shares in the last quarter. Gilbert & Cook Inc. acquired a new stake in Liberty Property Trust during the second quarter valued at approximately $203,000. Forsta AP Fonden raised its stake in Liberty Property Trust by 30.8% in the second quarter. Forsta AP Fonden now owns 104,101 shares of the real estate investment trust’s stock valued at $4,238,000 after buying an additional 24,500 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in 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 buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.
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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