Liberty Property Trust (LPT) Stock Rating Upgraded by Zacks Investment Research
Liberty Property Trust (NYSE:LPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $43.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target suggests a potential upside of 18.23% from the stock’s current price.
According to Zacks, “Estimates for funds from operations (FFO) per share have been going up, following Liberty Property’s third-quarter earnings release. Though the company’s third-quarter FFO per share narrowly missed expectations, going forward, it is expected to benefit from its solid portfolio of metro-office, multi-tenant industrial and flex properties, divestiture of non-core assets, decent balance sheet and rising demand for quality industrial spaces. Notably, following the end of the quarter, Liberty accomplished the sale of a portfolio of suburban office and flex assets for $969 million. The move comes as part of the company’s strategy of shedding its non-core suburban properties. However, earnings dilutive effects of divestiture, operational risks associated with huge construction pipeline and any rise in interest rates remain concerns.”
Several other research analysts also recently weighed in on LPT. Morgan Stanley assumed coverage on shares of Liberty Property Trust in a report on Tuesday, September 6th. They set an “equal weight” rating and a $38.00 price objective on the stock. BTIG Research assumed coverage on shares of Liberty Property Trust in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Stifel Nicolaus upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $44.00 in a report on Wednesday, October 26th. They noted that the move was a valuation call. Finally, Capital One Financial Corp. upgraded shares of Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 price objective on the stock in a report on Tuesday, October 4th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.38.
Shares of Liberty Property Trust (NYSE:LPT) opened at 36.37 on Thursday. The company’s 50 day moving average is $39.53 and its 200 day moving average is $39.11. The company has a market cap of $5.35 billion, a P/E ratio of 22.15 and a beta of 0.97. Liberty Property Trust has a one year low of $26.94 and a one year high of $42.26.
Liberty Property Trust (NYSE:LPT) last released its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. Liberty Property Trust had a net margin of 31.51% and a return on equity of 8.17%. The company had revenue of $190.86 million for the quarter, compared to the consensus estimate of $188.30 million. During the same quarter in the previous year, the company earned $0.67 EPS. Liberty Property Trust’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Liberty Property Trust will post $2.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $1.90 annualized dividend and a dividend yield of 5.22%. Liberty Property Trust’s dividend payout ratio is currently 115.85%.
Several hedge funds have recently made changes to their positions in LPT. Catalyst Capital Advisors LLC purchased a new stake in shares of Liberty Property Trust during the third quarter valued at approximately $101,000. Tower Research Capital LLC TRC raised 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 valued at $109,000 after buying an additional 723 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Liberty Property Trust by 54.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,031 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,072 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Liberty Property Trust by 18.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,709 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 737 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc OH bought a new position in Liberty Property Trust during the second quarter valued at $207,000. Institutional investors own 95.36% of the company’s stock.
Liberty Property Trust Company Profile
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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