Liberty Property Trust (LPT) Downgraded by Zacks Investment Research to “Hold”
Liberty Property Trust (NYSE:LPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Shares of Liberty Property have outperformed the industry it belongs to, year to date. The Zacks Consensus Estimate for current-year funds from operations (FFO) per share remained unchanged in a month’s time. The company’s premium quality industrial properties located in strategic locations will enable it to capitalize from the increasing demand amid an e-commerce boom and a healthy manufacturing environment. Also, it is poised for growth as fundamentals of the industrial real estate market remain robust, resulting in solid rent growth, enhanced occupancy and development opportunities. Notably, the company’s industrial portfolio was 95.9% leased at the end of second-quarter 2017, reflecting strong demand for space. However, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
LPT has been the subject of a number of other reports. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a research report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a research note on Friday, August 25th. Finally, BidaskClub cut Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Liberty Property Trust presently has an average rating of “Hold” and a consensus price target of $43.60.
Liberty Property Trust (NYSE LPT) traded down 0.42% during mid-day trading on Wednesday, hitting $42.78. 81,208 shares of the company’s stock traded hands. Liberty Property Trust has a one year low of $36.22 and a one year high of $43.36. The firm’s 50-day moving average price is $41.92 and its 200-day moving average price is $40.83. The stock has a market cap of $6.30 billion, a PE ratio of 18.30 and a beta of 0.88.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.65 EPS for the quarter, topping 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 business 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. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts forecast that Liberty Property Trust will post $1.24 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. State Treasurer State of Michigan lifted its stake in Liberty Property Trust by 1.7% during 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 purchasing an additional 1,000 shares during the last quarter. Louisiana State Employees Retirement System lifted 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 worth $1,563,000 after purchasing an additional 1,300 shares during the last quarter. NN Investment Partners Holdings N.V. lifted 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 worth $320,000 after purchasing an additional 848 shares during the last quarter. Sei Investments Co. lifted 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 worth $1,451,000 after purchasing an additional 2,538 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Liberty Property Trust by 3.0% during the second quarter. Pacer Advisors Inc. now owns 27,095 shares of the real estate investment trust’s stock worth $1,103,000 after purchasing an additional 792 shares during the last quarter. Hedge funds and other institutional investors 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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