Liberty Property Trust (LPT) Upgraded to Buy at Zacks Investment Research
Liberty Property Trust (NYSE:LPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $47.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.87% from the stock’s previous close.
According to Zacks, “Liberty Property delivered a better-than-expected performance with respect to funds from operations (FFO) per share and revenues. Also, industrial distribution rents escalated 11.9% on renewal and replacement leases signed during the quarter. Recently, the company announced that its newest industrial project in South Carolina, Caliber North is fully leased to Rudolph Logistics North America, Inc. The company is poised for growth as fundamentals of the industrial real estate market remain solid, backed by growing demand, resulting in solid rent increase, enhanced occupancy and development opportunities. Also, its shares outperformed the industry it belongs to, year to date. However, anticipated increase in supply of industrial real estates, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
Several other brokerages also recently commented on LPT. BidaskClub downgraded shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Stifel Nicolaus raised their target price on shares of Liberty Property Trust from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Liberty Property Trust presently has a consensus rating of “Hold” and a consensus price target of $42.50.
Liberty Property Trust (NYSE LPT) traded up 0.02% on Wednesday, reaching $41.65. 149,392 shares of the company’s stock traded hands. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 17.81 and a beta of 0.88. The stock’s 50 day moving average is $41.34 and its 200 day moving average is $40.36. Liberty Property Trust has a 52-week low of $36.22 and a 52-week high of $42.80.
Liberty Property Trust (NYSE:LPT) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm 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 47.24% and a return on equity of 11.37%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. On average, equities research analysts predict that Liberty Property Trust will post $1.24 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the stock. First Quadrant L P CA acquired a new stake in Liberty Property Trust during the first quarter worth about $136,000. First Citizens Bank & Trust Co. increased its stake in Liberty Property Trust by 14.0% in the first quarter. First Citizens Bank & Trust Co. now owns 10,831 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 1,327 shares during the period. ProShare Advisors LLC increased its stake in Liberty Property Trust by 178.5% in the first quarter. ProShare Advisors LLC now owns 148,414 shares of the real estate investment trust’s stock worth $2,026,000 after buying an additional 95,126 shares during the period. Profund Advisors LLC increased its stake in Liberty Property Trust by 2.8% in the first quarter. Profund Advisors LLC now owns 24,685 shares of the real estate investment trust’s stock worth $952,000 after buying an additional 681 shares during the period. Finally, PGGM Investments increased its stake in Liberty Property Trust by 108.7% in the first quarter. PGGM Investments now owns 2,790,000 shares of the real estate investment trust’s stock worth $107,554,000 after buying an additional 1,453,000 shares during the period. Institutional investors own 91.58% 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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