Timber Hill LLC Buys Shares of 8,696 Liberty Property Trust (LPT)
Timber Hill LLC bought a new stake in shares of Liberty Property Trust (NYSE:LPT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,696 shares of the real estate investment trust’s stock, valued at approximately $357,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. increased its position in shares of Liberty Property Trust by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 98 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Liberty Property Trust by 4.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 143 shares during the period. Gilbert & Cook Inc. purchased a new position in Liberty Property Trust during the 2nd quarter valued at $203,000. Emerald Advisers Inc. PA purchased a new position in Liberty Property Trust during the 3rd quarter valued at $208,000. Finally, Virtu KCG Holdings LLC purchased a new position in Liberty Property Trust during the 2nd quarter valued at $212,000. 91.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on LPT shares. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a report on Thursday, September 21st. ValuEngine upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a report on Wednesday, October 25th. Finally, KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a report on Tuesday, October 24th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $44.17.
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Shares of Liberty Property Trust (NYSE LPT) traded up $0.43 during mid-day trading on Friday, hitting $44.61. The company’s stock had a trading volume of 657,000 shares, compared to its average volume of 746,072. Liberty Property Trust has a twelve month low of $37.21 and a twelve month high of $45.08. The stock has a market cap of $6,512.93, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.88 and a beta of 0.87. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.93.
Liberty Property Trust (NYSE:LPT) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.23). Liberty Property Trust had a return on equity of 11.41% and a net margin of 47.78%. The firm had revenue of $193.65 million during the quarter, compared to analysts’ expectations of $174.65 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Liberty Property Trust’s quarterly revenue was up 1.5% compared to the same quarter last year. analysts forecast that Liberty Property Trust will post 2.55 EPS for the current fiscal year.
Liberty Property Trust announced that its Board of Directors has authorized a stock buyback program on Monday, October 2nd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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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