$167.90 Million in Sales Expected for Liberty Property Trust (LPT) This Quarter
Wall Street brokerages expect that Liberty Property Trust (NYSE:LPT) will post sales of $167.90 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Liberty Property Trust’s earnings. The highest sales estimate is $172.30 million and the lowest is $164.93 million. Liberty Property Trust reported sales of $190.86 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12%. The firm is scheduled to issue its next earnings results on Tuesday, October 24th.
On average, analysts expect that Liberty Property Trust will report full year sales of $167.90 million for the current financial year, with estimates ranging from $662.94 million to $713.00 million. For the next fiscal year, analysts expect that the business will post sales of $719.73 million per share, with estimates ranging from $683.96 million to $760.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Liberty Property Trust.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Liberty Property Trust had a net margin of 47.24% and a return on equity of 11.37%. The company had revenue of $183.13 million during the quarter, compared to analyst estimates of $175.60 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis.
A number of research analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price target on shares of Liberty Property Trust in a report on Thursday. Zacks Investment Research cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $43.60.
Several large investors have recently bought and sold shares of LPT. Advisor Group Inc. raised its stake in Liberty Property Trust by 3.9% during the second quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 98 shares during the period. Commonwealth Bank of Australia raised its stake in Liberty Property Trust by 4.8% during the second quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 143 shares during the period. Gilbert & Cook Inc. purchased a new position in Liberty Property Trust during the second quarter worth about $203,000. Virtu KCG Holdings LLC purchased a new position in Liberty Property Trust during the second quarter worth about $212,000. Finally, Envestnet Asset Management Inc. raised its stake in Liberty Property Trust by 25.0% during the first quarter. Envestnet Asset Management Inc. now owns 5,736 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,148 shares during the period. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Liberty Property Trust (NYSE:LPT) traded down 1.18% during trading on Friday, reaching $41.80. 554,503 shares of the company were exchanged. The firm has a market capitalization of $6.16 billion, a PE ratio of 17.88 and a beta of 0.88. The company’s 50-day moving average is $42.09 and its 200 day moving average is $40.97. Liberty Property Trust has a 1-year low of $36.22 and a 1-year high of $43.70.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.83%. Liberty Property Trust’s dividend payout ratio (DPR) is 68.38%.
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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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