JPMorgan Chase & Co. Acquires 649,069 Shares of Liberty Property Trust (LPT)
JPMorgan Chase & Co. increased its position in Liberty Property Trust (NYSE:LPT) by 21.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,736,798 shares of the real estate investment trust’s stock after purchasing an additional 649,069 shares during the period. JPMorgan Chase & Co. owned approximately 2.54% of Liberty Property Trust worth $152,125,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Robecosam AG boosted its stake in Liberty Property Trust by 107.7% in the 1st quarter. Robecosam AG now owns 2,700 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 1,400 shares in the last quarter. First Quadrant L P CA bought a new position in Liberty Property Trust in the 1st quarter worth about $136,000. Mn Services Vermogensbeheer B.V. boosted its stake in Liberty Property Trust by 5.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 3,920 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 206 shares in the last quarter. Gilbert & Cook Inc. bought a new position in Liberty Property Trust in the 2nd quarter worth about $203,000. Finally, Envestnet Asset Management Inc. boosted its stake in Liberty Property Trust by 25.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,736 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,148 shares in the last quarter. Institutional investors own 91.67% of the company’s stock.
A number of brokerages recently issued reports on LPT. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday. KeyCorp reiterated a “hold” rating on shares of Liberty Property Trust in a research note on Friday, August 25th. BidaskClub cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target on shares of Liberty Property Trust in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.60.
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Liberty Property Trust (LPT) opened at 42.81 on Thursday. The firm’s 50-day moving average is $41.80 and its 200 day moving average is $40.75. The company has a market cap of $6.31 billion, a PE ratio of 18.31 and a beta of 0.88. Liberty Property Trust has a 1-year low of $36.22 and a 1-year high of $43.04.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Liberty Property Trust had a return on equity of 11.37% and a net margin of 47.24%. The company had revenue of $183.13 million during the quarter, compared to the consensus estimate of $175.60 million. During the same period in the previous year, the company posted $0.68 earnings per share. Liberty Property Trust’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts predict that Liberty Property Trust will post $1.24 earnings per share for the current fiscal year.
Liberty Property Trust 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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