Liberty Property Trust (LPT) Plans Quarterly Dividend of $0.40
Liberty Property Trust (NYSE:LPT) declared a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.40 per share by the real estate investment trust on Sunday, October 15th. This represents a $1.60 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, September 29th.
Liberty Property Trust has a payout ratio of 63.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Liberty Property Trust to earn $1.33 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 120.3%.
Shares of Liberty Property Trust (NYSE:LPT) traded down 0.42% during midday trading on Friday, reaching $42.77. 1,129,987 shares of the company’s stock were exchanged. The stock has a market cap of $6.30 billion, a PE ratio of 18.29 and a beta of 0.88. The stock’s 50 day moving average is $41.83 and its 200-day moving average is $40.76. Liberty Property Trust has a 12-month low of $36.22 and a 12-month high of $43.04.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company 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%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. On average, equities analysts expect that Liberty Property Trust will post $1.24 EPS for the current year.
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Several research analysts have issued reports on LPT shares. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a report on Thursday, July 6th. KeyCorp reiterated a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. Zacks Investment Research cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Monday, August 21st. Finally, BidaskClub cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.60.
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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