Liberty Property Trust (LPT) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Liberty Property Trust (NYSE:LPT) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
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 in a month’s time. Notably, the company’s industrial portfolio was leased 95.9% at the end of second-quarter 2017, reflecting the strong demand for space at its properties. Also, industrial distribution rents escalated 11.9% on renewal and replacement leases signed during the reported quarter. Moving ahead, Liberty Property 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 analysts have also issued reports on the stock. Stifel Nicolaus restated a buy rating and issued a $44.00 price target on shares of Liberty Property Trust in a research note on Thursday, July 6th. BidaskClub lowered shares of Liberty Property Trust from a buy rating to a hold rating in a research note on Wednesday, June 21st. Finally, KeyCorp restated 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, four have issued a hold rating and four have given a buy rating to the company. Liberty Property Trust currently has a consensus rating of Hold and a consensus target price of $43.60.
Liberty Property Trust (NYSE:LPT) opened at 42.95 on Monday. Liberty Property Trust has a 52-week low of $36.22 and a 52-week high of $43.04. The stock has a market capitalization of $6.33 billion, a P/E ratio of 18.37 and a beta of 0.88. The company has a 50 day moving average of $41.83 and a 200-day moving average of $40.76.
Liberty Property Trust (NYSE:LPT) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $183.13 million during the quarter, compared to analyst estimates of $175.60 million. Liberty Property Trust had a net margin of 47.24% and a return on equity of 11.37%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Equities research analysts anticipate that Liberty Property Trust will post $1.24 EPS for the current year.
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Large investors have recently modified their holdings of the stock. State Treasurer State of Michigan increased its stake in shares of Liberty Property Trust by 1.7% in the second quarter. State Treasurer State of Michigan now owns 60,700 shares of the real estate investment trust’s stock worth $2,471,000 after buying an additional 1,000 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Liberty Property Trust by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 38,400 shares of the real estate investment trust’s stock valued at $1,563,000 after purchasing an additional 1,300 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Liberty Property Trust by 12.1% during the second quarter. NN Investment Partners Holdings N.V. now owns 7,881 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 848 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Liberty Property Trust by 5.6% during the second quarter. Russell Investments Group Ltd. now owns 168,832 shares of the real estate investment trust’s stock valued at $6,876,000 after purchasing an additional 8,931 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Liberty Property Trust by 7.7% during the second quarter. Sei Investments Co. now owns 35,644 shares of the real estate investment trust’s stock valued at $1,451,000 after purchasing an additional 2,538 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
About Liberty Property Trust
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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