Liberty Property Trust (LPT) Earns Equal Weight Rating from Morgan Stanley
Liberty Property Trust (NYSE:LPT)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a note issued to investors on Thursday. They presently have a $43.00 price objective on the real estate investment trust’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.01% from the company’s current price.
LPT has been the topic of several other research reports. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a research report on Thursday, September 21st. Zacks Investment Research cut Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. KeyCorp reiterated a “hold” rating on shares of Liberty Property Trust in a research report on Friday, August 25th. Finally, ValuEngine upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $44.00.
Shares of Liberty Property Trust (LPT) traded down $0.26 during mid-day trading on Thursday, reaching $43.88. The company had a trading volume of 1,029,900 shares, compared to its average volume of 738,027. The firm has a market cap of $6,507.03, a PE ratio of 19.03, a PEG ratio of 2.89 and a beta of 0.88. Liberty Property Trust has a 1 year low of $37.21 and a 1 year high of $45.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.78 and a quick ratio of 1.78.
Liberty Property Trust announced that its Board of Directors has approved a stock buyback program on Monday, October 2nd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director David L. Lingerfelt sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.56, for a total transaction of $802,080.00. Following the sale, the director now owns 56,814 shares of the company’s stock, valued at approximately $2,531,631.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Liberty Property Trust by 80.3% during the third quarter. State of Alaska Department of Revenue now owns 56,140 shares of the real estate investment trust’s stock worth $2,265,000 after purchasing an additional 25,010 shares during the last quarter. Norges Bank bought a new position in shares of Liberty Property Trust during the fourth quarter worth about $53,077,000. Harrington Investments INC bought a new position in shares of Liberty Property Trust during the third quarter worth about $834,000. BlackRock Japan Co. Ltd lifted its position in shares of Liberty Property Trust by 0.7% during the third quarter. BlackRock Japan Co. Ltd now owns 208,522 shares of the real estate investment trust’s stock worth $8,414,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Liberty Property Trust by 1,026.7% during the second quarter. Macquarie Group Ltd. now owns 423,656 shares of the real estate investment trust’s stock worth $16,828,000 after purchasing an additional 386,056 shares during the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.
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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