Liberty Property Trust (LPT) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Liberty Property Trust (NYSE:LPT) from a buy rating to a hold rating in a research report report published on Monday.
According to Zacks, “Shares of Liberty Property have outperformed the industry it belongs to, year to date. However, the stock has seen the Zacks Consensus Estimate for current year funds from operations (FFO) per share being unchanged over the last seven days. In July, the company delivered a better-than-expected performance with respect to FFO per share and revenues. Recently, the company announced that it would develop a 220,000 square foot industrial building for global conveyance solutions leader, Intralox, at 7157 Ridge Road, in Hanover, MD. The company is poised for growth as fundamentals of the industrial real estate market remain solid, backed by growing demand, resulting in solid rent increase, enhanced occupancy and development opportunities. However, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
A number of other equities research analysts also recently weighed in on LPT. BidaskClub downgraded shares of Liberty Property Trust from a buy rating to a hold rating in a research note on Wednesday, June 21st. Stifel Nicolaus reaffirmed a buy rating and issued a $44.00 target price on shares of Liberty Property Trust in a research note on Thursday, July 6th. Finally, KeyCorp reaffirmed a hold rating on shares of Liberty Property Trust in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Liberty Property Trust currently has an average rating of Hold and a consensus target price of $42.50.
Shares of Liberty Property Trust (NYSE LPT) opened at 42.11 on Monday. Liberty Property Trust has a 1-year low of $36.22 and a 1-year high of $42.80. The company has a 50-day moving average of $41.49 and a 200-day moving average of $40.53. The company has a market cap of $6.20 billion, a PE ratio of 18.01 and a beta of 0.88.
Liberty Property Trust (NYSE:LPT) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $175.60 million. Liberty Property Trust had a net margin of 47.24% and a return on equity of 11.37%. Liberty Property Trust’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Equities analysts forecast that Liberty Property Trust will post $1.24 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Telos Capital Management Inc. increased its position in Liberty Property Trust by 0.7% in the first quarter. Telos Capital Management Inc. now owns 7,672 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 53 shares during the period. Shell Asset Management Co. increased its position in Liberty Property Trust by 1.0% in the first quarter. Shell Asset Management Co. now owns 8,681 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 84 shares during the period. Advisor Group Inc. increased its position in Liberty Property Trust by 3.9% in the second quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 98 shares during the period. Westwood Holdings Group Inc. increased its position in Liberty Property Trust by 0.5% in the first quarter. Westwood Holdings Group Inc. now owns 23,908 shares of the real estate investment trust’s stock valued at $922,000 after buying an additional 115 shares during the period. Finally, Commonwealth Bank of Australia increased its position in Liberty Property Trust by 4.8% in the second quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 143 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Liberty Property Trust Company Profile
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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