Cohen & Steers Inc. Acquires New Holdings in Liberty Property Trust (LPT)
Cohen & Steers Inc. acquired a new position in Liberty Property Trust (NYSE:LPT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,063,289 shares of the real estate investment trust’s stock, valued at approximately $43,659,000. Cohen & Steers Inc. owned approximately 0.72% of Liberty Property Trust at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Advisor Group Inc. lifted its position in Liberty Property Trust by 3.9% in the second quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 98 shares during the period. Commonwealth Bank of Australia lifted its position in Liberty Property Trust by 4.8% in the second quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 143 shares during the period. Spectrum Management Group Inc. acquired a new stake in Liberty Property Trust in the third quarter worth approximately $168,000. Emerald Advisers Inc. PA acquired a new stake in Liberty Property Trust in the third quarter worth approximately $208,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Liberty Property Trust in the second quarter worth approximately $212,000. 91.46% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on LPT shares. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, August 24th. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a research report on Thursday, September 21st. Finally, KeyCorp reiterated a “hold” rating on shares of Liberty Property Trust in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and four 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 $44.17.
Shares of Liberty Property Trust (NYSE:LPT) opened at $44.78 on Friday. Liberty Property Trust has a 52-week low of $37.21 and a 52-week high of $45.40. The company has a market capitalization of $6,601.38, a price-to-earnings ratio of 19.30, a PEG ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.78 and a current ratio of 1.78.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.23). The company had revenue of $193.65 million for the quarter, compared to analyst estimates of $174.65 million. Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. Liberty Property Trust’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. sell-side analysts forecast that Liberty Property Trust will post 2.55 earnings per share for the current fiscal year.
Liberty Property Trust announced that its board has initiated a share buyback plan on Monday, October 2nd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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