Great West Life Assurance Co. Can trimmed its stake in shares of Liberty Property Trust (NYSE:LPT) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,969 shares of the real estate investment trust’s stock after selling 7,798 shares during the quarter. Great West Life Assurance Co. Can owned about 0.15% of Liberty Property Trust worth $9,130,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in LPT. Flinton Capital Management LLC lifted its holdings in shares of Liberty Property Trust by 5.5% during the second quarter. Flinton Capital Management LLC now owns 22,100 shares of the real estate investment trust’s stock worth $980,000 after buying an additional 1,156 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Liberty Property Trust by 50.3% during the second quarter. Macquarie Group Ltd. now owns 261,654 shares of the real estate investment trust’s stock worth $11,599,000 after buying an additional 87,520 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Liberty Property Trust during the second quarter worth $1,655,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Liberty Property Trust by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,765,863 shares of the real estate investment trust’s stock worth $78,281,000 after buying an additional 98,897 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Liberty Property Trust during the second quarter worth $1,768,000. 91.38% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on LPT shares. ValuEngine raised Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, October 4th. Finally, Mitsubishi UFJ Financial Group dropped their target price on Liberty Property Trust from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Liberty Property Trust has a consensus rating of “Buy” and an average price target of $45.00.
LPT stock opened at $46.27 on Friday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.93 and a beta of 0.63. Liberty Property Trust has a 52 week low of $37.77 and a 52 week high of $46.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.54 and a quick ratio of 1.54.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.36. The business had revenue of $121.51 million during the quarter, compared to the consensus estimate of $119.79 million. Liberty Property Trust had a return on equity of 6.68% and a net margin of 59.89%. Liberty Property Trust’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, sell-side analysts predict that Liberty Property Trust will post 2.64 earnings per share for the current fiscal year.
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Liberty Property Trust Profile
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of industrial and office properties. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
See Also: Leveraged Buyout (LBO)
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