Liberty Property Trust (LPT) Receives $41.33 Consensus Target Price from Analysts
Liberty Property Trust (NYSE:LPT) has been given an average rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $41.33.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a report on Thursday, September 21st. KeyCorp reaffirmed a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. Finally, BidaskClub lowered Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPT. Envestnet Asset Management Inc. grew its holdings in shares of Liberty Property Trust by 25.0% during the first quarter. Envestnet Asset Management Inc. now owns 5,736 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 1,148 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Liberty Property Trust during the first quarter worth about $295,000. Schroder Investment Management Group purchased a new position in shares of Liberty Property Trust during the first quarter worth about $439,000. United Services Automobile Association purchased a new position in shares of Liberty Property Trust during the first quarter worth about $861,000. Finally, OppenheimerFunds Inc. grew its holdings in shares of Liberty Property Trust by 30.3% during the first quarter. OppenheimerFunds Inc. now owns 28,721 shares of the real estate investment trust’s stock worth $1,107,000 after buying an additional 6,673 shares during the last quarter. 91.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Liberty Property Trust (NYSE LPT) traded down 0.10% on Friday, reaching $41.41. The company had a trading volume of 564,790 shares. The firm has a market capitalization of $6.10 billion, a PE ratio of 17.71 and a beta of 0.88. The firm’s 50 day moving average is $42.12 and its 200 day moving average is $41.40. Liberty Property Trust has a 12 month low of $36.22 and a 12 month high of $43.70.
Liberty Property Trust (NYSE:LPT) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $183.13 million for the quarter, compared to analyst estimates of $175.60 million. Liberty Property Trust had a return on equity of 11.37% and a net margin of 47.24%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. On average, equities research analysts expect that Liberty Property Trust will post $1.23 earnings per share for the current fiscal year.
Liberty Property Trust declared that its board has initiated a share buyback program on Monday, October 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, September 29th. Liberty Property Trust’s payout ratio is 68.38%.
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Liberty Property Trust Company 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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