Goldman Sachs Group Begins Coverage on Liberty Property Trust (LPT)

Investment analysts at Goldman Sachs Group began coverage on shares of Liberty Property Trust (NYSE:LPT) in a research note issued on Wednesday, The Fly reports. The firm set a “neutral” rating on the real estate investment trust’s stock.

LPT has been the subject of several other research reports. Zacks Investment Research cut Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. SunTrust Banks cut Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Liberty Property Trust currently has an average rating of “Hold” and an average target price of $46.17.

Liberty Property Trust stock traded up $0.34 during trading hours on Wednesday, hitting $48.00. The stock had a trading volume of 715,472 shares, compared to its average volume of 831,804. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $7.07 billion, a PE ratio of 21.82, a P/E/G ratio of 3.09 and a beta of 0.77. Liberty Property Trust has a one year low of $39.82 and a one year high of $50.48.

Liberty Property Trust (NYSE:LPT) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $156.89 million during the quarter, compared to the consensus estimate of $126.10 million. Liberty Property Trust had a return on equity of 4.61% and a net margin of 57.53%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. As a group, analysts predict that Liberty Property Trust will post 2.58 earnings per share for the current fiscal year.

In other Liberty Property Trust news, CAO Mary Beth Morrissey sold 5,870 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $49.97, for a total value of $293,323.90. Following the sale, the chief accounting officer now directly owns 57,621 shares in the company, valued at $2,879,321.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Michael T. Hagan sold 27,626 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $47.22, for a total value of $1,304,499.72. Following the completion of the sale, the executive now owns 194,052 shares in the company, valued at $9,163,135.44. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its stake in shares of Liberty Property Trust by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 7,586 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 231 shares during the period. Utah Retirement Systems raised its stake in shares of Liberty Property Trust by 0.6% in the first quarter. Utah Retirement Systems now owns 38,065 shares of the real estate investment trust’s stock valued at $1,844,000 after buying an additional 237 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Liberty Property Trust by 0.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,178 shares of the real estate investment trust’s stock valued at $1,755,000 after buying an additional 257 shares during the period. US Bancorp DE raised its stake in shares of Liberty Property Trust by 6.5% in the first quarter. US Bancorp DE now owns 4,532 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 276 shares during the period. Finally, Princeton Capital Management LLC grew its position in shares of Liberty Property Trust by 37.5% in the first quarter. Princeton Capital Management LLC now owns 1,077 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Liberty Property Trust Company Profile

Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 108 million square foot operating portfolio provides productive work environments to 1,200 tenants.

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Analyst Recommendations for Liberty Property Trust (NYSE:LPT)

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