Liberty Property Trust (LPT) Sets New 52-Week High After Dividend Announcement

Liberty Property Trust (NYSE:LPT) shares hit a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $46.91 and last traded at $46.35, with a volume of 1299168 shares changing hands. The stock had previously closed at $46.17.

The newly announced dividend which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, December 31st. Liberty Property Trust’s dividend payout ratio (DPR) is 61.78%.

A number of research firms have weighed in on LPT. ValuEngine raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Zacks Investment Research raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, October 4th. Finally, Mitsubishi UFJ Financial Group dropped their price objective on shares of Liberty Property Trust from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Liberty Property Trust presently has a consensus rating of “Buy” and an average price target of $45.00.

The firm has a market cap of $6.84 billion, a P/E ratio of 17.91, a PEG ratio of 2.92 and a beta of 0.62. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.54 and a current ratio of 1.54.

Liberty Property Trust (NYSE:LPT) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.36. The company had revenue of $121.51 million during the quarter, compared to the consensus estimate of $119.79 million. Liberty Property Trust had a net margin of 59.89% and a return on equity of 6.68%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, analysts expect that Liberty Property Trust will post 2.64 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Liberty Property Trust by 0.5% in the third quarter. Vanguard Group Inc. now owns 21,713,904 shares of the real estate investment trust’s stock valued at $917,412,000 after purchasing an additional 98,884 shares during the last quarter. WealthPLAN Partners LLC raised its holdings in shares of Liberty Property Trust by 12.5% in the third quarter. WealthPLAN Partners LLC now owns 10,555 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 1,170 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Liberty Property Trust in the third quarter valued at about $161,000. Cohen & Steers Inc. raised its holdings in shares of Liberty Property Trust by 42.5% in the third quarter. Cohen & Steers Inc. now owns 3,450,717 shares of the real estate investment trust’s stock valued at $145,793,000 after purchasing an additional 1,029,409 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Liberty Property Trust by 22.1% in the third quarter. TIAA CREF Investment Management LLC now owns 418,635 shares of the real estate investment trust’s stock valued at $17,687,000 after purchasing an additional 75,888 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.

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About Liberty Property Trust (NYSE:LPT)

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.

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