Zacks Investment Research Upgrades Liberty Property Trust (LPT) to Buy
Liberty Property Trust (NYSE:LPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $48.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.44% from the stock’s previous close.
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.”
Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a report on Thursday, July 6th. KeyCorp reissued a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. Finally, BidaskClub downgraded Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Liberty Property Trust currently has a consensus rating of “Hold” and a consensus target price of $43.60.
Shares of Liberty Property Trust (LPT) opened at 42.69 on Tuesday. Liberty Property Trust has a 12-month low of $36.22 and a 12-month high of $43.70. The stock has a 50 day moving average of $41.96 and a 200 day moving average of $40.86. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 18.26 and a beta of 0.88.
Liberty Property Trust (NYSE:LPT) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share 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 company had revenue of $183.13 million during the quarter, compared to the consensus estimate of $175.60 million. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Liberty Property Trust will post $1.24 earnings per share 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 raised its stake in 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 valued at $2,471,000 after purchasing an additional 1,000 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Liberty Property Trust by 3.5% in 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 in the last quarter. NN Investment Partners Holdings N.V. raised its stake in Liberty Property Trust by 12.1% in 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 in the last quarter. Sei Investments Co. raised its stake in Liberty Property Trust by 7.7% in 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 in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Liberty Property Trust by 3.0% in the second quarter. Pacer Advisors Inc. now owns 27,095 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 792 shares in the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.
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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