$159.99 Million in Sales Expected for Liberty Property Trust (NYSE:LPT) This Quarter
Wall Street brokerages expect that Liberty Property Trust (NYSE:LPT) will report $159.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Liberty Property Trust’s earnings. The highest sales estimate is $164.10 million and the lowest is $158.01 million. Liberty Property Trust posted sales of $176.60 million during the same quarter last year, which suggests a negative year over year growth rate of 9.4%. The company is expected to report its next earnings results before the market opens on Tuesday, July 30th.
According to Zacks, analysts expect that Liberty Property Trust will report full-year sales of $660.27 million for the current fiscal year, with estimates ranging from $635.81 million to $723.00 million. For the next year, analysts anticipate that the company will report sales of $685.08 million, with estimates ranging from $652.28 million to $766.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Liberty Property Trust.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Liberty Property Trust had a return on equity of 4.61% and a net margin of 57.53%. The business had revenue of $156.89 million during the quarter, compared to analyst estimates of $126.10 million. During the same period last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis.
Liberty Property Trust stock traded down $0.69 during midday trading on Tuesday, reaching $50.77. The company’s stock had a trading volume of 1,032,148 shares, compared to its average volume of 692,397. Liberty Property Trust has a fifty-two week low of $39.82 and a fifty-two week high of $51.91. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.92. The stock has a market cap of $7.53 billion, a P/E ratio of 23.08, a P/E/G ratio of 3.27 and a beta of 0.77. The stock’s 50-day moving average is $50.16.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, June 28th. Liberty Property Trust’s dividend payout ratio is presently 74.55%.
In other Liberty Property Trust news, CAO Mary Beth Morrissey sold 5,870 shares of Liberty Property Trust stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $49.97, for a total value of $293,323.90. Following the sale, the chief accounting officer now owns 57,621 shares of the company’s stock, valued at approximately $2,879,321.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of LPT. Destination Wealth Management bought a new position in shares of Liberty Property Trust in the second quarter worth about $31,000. Zions Bancorporation N.A. acquired a new stake in Liberty Property Trust during the first quarter worth about $36,000. Quadrant Capital Group LLC grew its stake in Liberty Property Trust by 74.1% during the first quarter. Quadrant Capital Group LLC now owns 940 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 400 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in Liberty Property Trust during the second quarter worth about $50,000. Finally, Princeton Capital Management LLC grew its stake in Liberty Property Trust by 37.5% during the first quarter. Princeton Capital Management LLC now owns 1,077 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 294 shares in the last quarter. Institutional investors own 92.47% of the company’s stock.
About Liberty Property Trust
Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 108 million square foot operating portfolio provides productive work environments to 1,200 tenants.
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