Zacks Investment Research upgraded shares of Liberty Property Trust (NYSE:LPT) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $48.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Shares of Liberty Property have outperformed the industry it belongs to, year to date. The Zacks Consensus Estimate for current-year funds from operations (FFO) per share remained unchanged in a month’s time. The company’s premium quality industrial properties located in strategic locations will enable it to capitalize from the increasing demand amid an e-commerce boom and a healthy manufacturing environment. Also, it is poised for growth as fundamentals of the industrial real estate market remain robust, resulting in solid rent growth, enhanced occupancy and development opportunities. Notably, the company’s industrial portfolio was 95.9% leased at the end of second-quarter 2017, reflecting strong demand for space. However, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
A number of other research firms have also weighed in on LPT. BidaskClub lowered shares of Liberty Property Trust from a buy rating to a hold rating in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a buy rating and issued a $44.00 price objective on shares of Liberty Property Trust in a research report on Thursday, July 6th. Finally, KeyCorp reissued a hold rating on shares of Liberty Property Trust in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $43.60.
Shares of Liberty Property Trust (NYSE:LPT) opened at 42.96 on Tuesday. The firm has a market cap of $6.33 billion, a P/E ratio of 18.37 and a beta of 0.88. Liberty Property Trust has a one year low of $36.22 and a one year high of $43.70. The stock’s 50 day moving average is $41.92 and its 200-day moving average is $40.83.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $183.13 million during the quarter, compared to analyst estimates of $175.60 million. Liberty Property Trust had a net margin of 47.24% and a return on equity of 11.37%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 earnings per share. Analysts anticipate that Liberty Property Trust will post $1.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, September 29th. Liberty Property Trust’s dividend payout ratio (DPR) is 68.38%.
A number of hedge funds have recently modified their holdings of the stock. Shell Asset Management Co. increased its position in Liberty Property Trust by 1.0% during the first quarter. Shell Asset Management Co. now owns 8,681 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 84 shares during the last quarter. Advisor Group Inc. increased its position 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 last quarter. Westwood Holdings Group Inc. increased its position in Liberty Property Trust by 0.5% during the first quarter. Westwood Holdings Group Inc. now owns 23,908 shares of the real estate investment trust’s stock worth $922,000 after purchasing an additional 115 shares during the last quarter. Commonwealth Bank of Australia increased its position 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 last quarter. Finally, World Asset Management Inc increased its position in Liberty Property Trust by 1.7% during the second quarter. World Asset Management Inc now owns 11,453 shares of the real estate investment trust’s stock worth $466,000 after purchasing an additional 196 shares during the last quarter. 91.67% of the stock is owned by hedge funds and other institutional investors.
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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