Resources Management Corp CT ADV purchased a new position in shares of Liberty Property Trust (NYSE:LPT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 41,616 shares of the real estate investment trust’s stock, valued at approximately $2,136,000.
Other institutional investors have also bought and sold shares of the company. Ropes Wealth Advisors LLC acquired a new position in shares of Liberty Property Trust during the 3rd quarter valued at $36,000. KCS Wealth Advisory acquired a new stake in shares of Liberty Property Trust in the 3rd quarter valued at about $46,000. Meeder Asset Management Inc. increased its position in Liberty Property Trust by 432.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,252 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,017 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Liberty Property Trust in the 2nd quarter valued at about $100,000. Finally, Assetmark Inc. raised its stake in Liberty Property Trust by 27.5% during the 2nd quarter. Assetmark Inc. now owns 3,912 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 844 shares during the period. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Shares of NYSE LPT traded up $0.30 during mid-day trading on Wednesday, reaching $61.39. 1,081,008 shares of the company’s stock traded hands, compared to its average volume of 1,062,159. The company has a debt-to-equity ratio of 0.78, a current ratio of 7.33 and a quick ratio of 7.33. The business has a 50-day simple moving average of $57.43 and a 200 day simple moving average of $52.40. The stock has a market cap of $9.72 billion, a P/E ratio of 27.90, a PEG ratio of 4.04 and a beta of 0.77. Liberty Property Trust has a 1-year low of $40.15 and a 1-year high of $62.53.
Liberty Property Trust (NYSE:LPT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.03. The company had revenue of $163.20 million for the quarter, compared to analyst estimates of $163.43 million. Liberty Property Trust had a net margin of 64.23% and a return on equity of 5.79%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. Equities research analysts anticipate that Liberty Property Trust will post 2.54 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Wells Fargo & Co lowered Liberty Property Trust from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $57.00 to $59.00 in a report on Monday, November 4th. Zacks Investment Research upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a report on Thursday, November 28th. JPMorgan Chase & Co. upped their target price on Liberty Property Trust from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. ValuEngine cut Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price target on shares of Liberty Property Trust from $49.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $53.83.
In other news, CAO Mary Beth Morrissey sold 2,741 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $51.26, for a total value of $140,503.66. Following the completion of the sale, the chief accounting officer now directly owns 50,559 shares of the company’s stock, valued at $2,591,654.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
About Liberty Property Trust
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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