Liberty Property Trust (LPT) Stock Rating Lowered by Zacks Investment Research
Liberty Property Trust (NYSE:LPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Liberty Property recently closed the sale of 108 properties in five markets for $969 million. Majority of them were suburban offices and flex non-core assets. In fact, with this sale, its share of total dispositions reached $1.2 billion so far this year. Notably, the company has been concentrating on divesting its non-core assets and using the proceeds for gaining preferred properties across the U.S. The company is also focusing on industrial portfolio expansion. However, the near-term dilution effect of sale of assets on earnings is unavoidable. Moreover, operational risks associated with huge construction pipeline and any rise in interest rates remains as concerns.”
Other equities research analysts have also recently issued reports about the company. Capital One Financial Corp. raised Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 price objective for the company in a research note on Tuesday. Citigroup Inc. lifted their price objective on Liberty Property Trust from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price objective on shares of Liberty Property Trust in a research note on Tuesday, September 6th. Finally, BTIG Research began coverage on Liberty Property Trust in a research note on Thursday, August 25th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Liberty Property Trust presently has a consensus rating of “Hold” and an average price target of $37.57.
Shares of Liberty Property Trust (NYSE:LPT) traded down 0.51% on Wednesday, hitting $38.90. The company had a trading volume of 475,429 shares. The firm has a market capitalization of $5.71 billion, a P/E ratio of 20.64 and a beta of 0.97. Liberty Property Trust has a 12-month low of $26.94 and a 12-month high of $42.26. The firm has a 50 day moving average of $40.50 and a 200-day moving average of $38.10.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Liberty Property Trust had a return on equity of 9.36% and a net margin of 35.96%. The business earned $186.65 million during the quarter, compared to analysts’ expectations of $191.42 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities analysts predict that Liberty Property Trust will post $2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.475 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.86%. Liberty Property Trust’s payout ratio is 101.06%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Liberty Property Trust by 35.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,736 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 723 shares during the last quarter. Fort Washington Investment Advisors Inc OH purchased a new position in Liberty Property Trust during the second quarter valued at $207,000. Baldwin Investment Management LLC purchased a new position in Liberty Property Trust during the second quarter valued at $209,000. Hancock Holding Co. purchased a new position in Liberty Property Trust during the second quarter valued at $225,000. Finally, Jane Street Group LLC purchased a new position in Liberty Property Trust during the second quarter valued at $233,000. 97.14% of the stock is owned by hedge funds and other institutional investors.
About Liberty Property Trust
Liberty Property Trust is a real estate investment trust. The Company’s operations are primarily conducted by its subsidiary, Liberty Property Limited Partnership. Its segments include Carolinas; Chicago/Milwaukee; Houston, Lehigh/Central PA; Minnesota; Orlando; Philadelphia; Richmond/Hampton Roads; Southeastern PA; South Florida; Tampa; United Kingdom, and Other, which includes Arizona, Atlanta, Cincinnati/Columbus/Indianapolis, Dallas, Maryland, New Jersey, Northern Virginia, Southern California, Washington DC and other segments.
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