Liberty Property Trust (LPT) is Cordasco Financial Network’s 6th Largest Position
Cordasco Financial Network continued to hold its position in Liberty Property Trust (NYSE:LPT) during the second quarter, Holdings Channel reports. The institutional investor owned 60,000 shares of the real estate investment trust’s stock at the end of the second quarter. Liberty Property Trust makes up approximately 2.7% of Cordasco Financial Network’s holdings, making the stock its 6th largest position. Cordasco Financial Network’s holdings in Liberty Property Trust were worth $2,383,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Liberty Property Trust by 3.3% in the first quarter. Legal & General Group Plc now owns 883,262 shares of the real estate investment trust’s stock worth $29,553,000 after buying an additional 28,365 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new stake in shares of Liberty Property Trust during the first quarter worth $78,144,000. Royal Bank of Canada boosted its stake in shares of Liberty Property Trust by 5.6% in the first quarter. Royal Bank of Canada now owns 2,847,251 shares of the real estate investment trust’s stock worth $95,269,000 after buying an additional 152,216 shares during the period. Geode Capital Management LLC boosted its stake in shares of Liberty Property Trust by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,182,104 shares of the real estate investment trust’s stock worth $39,539,000 after buying an additional 53,472 shares during the period. Finally, Norges Bank acquired a new stake in shares of Liberty Property Trust during the fourth quarter worth $40,881,000. 97.42% of the stock is owned by institutional investors.
Liberty Property Trust (NYSE:LPT) traded up 2.00% during midday trading on Monday, hitting $39.73. 796,061 shares of the stock were exchanged. The company has a market cap of $5.83 billion, a PE ratio of 21.08 and a beta of 1.04. The firm’s 50 day moving average price is $40.42 and its 200 day moving average price is $37.37. Liberty Property Trust has a 12 month low of $26.94 and a 12 month high of $42.26.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Liberty Property Trust had a net margin of 35.96% and a return on equity of 9.36%. The company earned $186.65 million during the quarter, compared to analyst estimates of $191.42 million. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities research analysts forecast that Liberty Property Trust will post $2.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.78%. Liberty Property Trust’s payout ratio is 101.06%.
A number of equities research analysts have weighed in on LPT shares. Morgan Stanley started coverage on shares of Liberty Property Trust in a report on Tuesday, September 6th. They issued an “equal weight” rating and a $38.00 price objective on the stock. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Monday, June 20th. Citigroup Inc. upped their price objective on shares of Liberty Property Trust from $34.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, BTIG Research started coverage on shares of Liberty Property Trust in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.00.
About Liberty Property Trust
Liberty Property Trust is a real estate investment trust. The Company’s operations are primarily conducted by its subsidiary, Liberty Property Limited Partnership. Its segments include Carolinas; Chicago/Milwaukee; Houston, Lehigh/Central PA; Minnesota; Orlando; Philadelphia; Richmond/Hampton Roads; Southeastern PA; South Florida; Tampa; United Kingdom, and Other, which includes Arizona, Atlanta, Cincinnati/Columbus/Indianapolis, Dallas, Maryland, New Jersey, Northern Virginia, Southern California, Washington DC and other segments.
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