Russell Investments Group Ltd. increased its holdings in Liberty Property Trust (NYSE:LPT) by 35.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 577,938 shares of the real estate investment trust’s stock after buying an additional 152,272 shares during the quarter. Russell Investments Group Ltd. owned about 0.39% of Liberty Property Trust worth $29,689,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 6 Meridian increased its holdings in Liberty Property Trust by 1.9% in the 2nd quarter. 6 Meridian now owns 10,987 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 209 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of Liberty Property Trust by 4.6% during the 2nd quarter. Independent Advisor Alliance now owns 5,012 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 222 shares during the period. Oakbrook Investments LLC grew its stake in shares of Liberty Property Trust by 3.6% during the 3rd quarter. Oakbrook Investments LLC now owns 8,550 shares of the real estate investment trust’s stock valued at $439,000 after purchasing an additional 300 shares during the period. Natixis Advisors L.P. grew its stake in shares of Liberty Property Trust by 1.3% during the 2nd quarter. Natixis Advisors L.P. now owns 23,478 shares of the real estate investment trust’s stock valued at $1,175,000 after purchasing an additional 302 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Liberty Property Trust by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 27,350 shares of the real estate investment trust’s stock valued at $1,369,000 after purchasing an additional 400 shares during the period. Institutional investors own 92.77% of the company’s stock.
In other news, CAO Mary Beth Morrissey sold 2,741 shares of Liberty Property Trust stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $51.26, for a total transaction of $140,503.66. Following the transaction, the chief accounting officer now directly owns 50,559 shares of the company’s stock, valued at approximately $2,591,654.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.
Liberty Property Trust stock opened at $58.76 on Friday. The business has a 50-day simple moving average of $52.65 and a two-hundred day simple moving average of $50.91. The company has a market cap of $8.62 billion, a P/E ratio of 26.71, a P/E/G ratio of 3.81 and a beta of 0.76. Liberty Property Trust has a 52-week low of $40.15 and a 52-week high of $59.97. The company has a quick ratio of 2.27, a current ratio of 7.33 and a debt-to-equity ratio of 0.78.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. Liberty Property Trust had a return on equity of 5.79% and a net margin of 64.23%. The business had revenue of $163.20 million during the quarter, compared to the consensus estimate of $163.43 million. During the same period in the previous year, the company posted $0.69 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that Liberty Property Trust will post 2.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, September 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.79%. Liberty Property Trust’s payout ratio is currently 74.55%.
LPT has been the subject of a number of recent research reports. Wells Fargo & Co downgraded Liberty Property Trust from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $57.00 to $59.00 in a research note on Monday. ValuEngine downgraded Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price target on Liberty Property Trust from $49.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on Liberty Property Trust from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Eight analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $52.00.
Liberty Property Trust 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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