Liberty Property Trust (LPT) Position Decreased by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its position in shares of Liberty Property Trust (NYSE:LPT) by 65.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,600 shares of the real estate investment trust’s stock after selling 36,652 shares during the period. PNC Financial Services Group Inc.’s holdings in Liberty Property Trust were worth $778,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Liberty Property Trust by 11.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,411 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 460 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Liberty Property Trust by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,671 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 548 shares in the last quarter. Baldwin Investment Management LLC acquired a new stake in shares of Liberty Property Trust during the second quarter valued at about $209,000. IFP Advisors Inc increased its stake in shares of Liberty Property Trust by 198.8% in the first quarter. IFP Advisors Inc now owns 7,184 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 4,780 shares in the last quarter. Finally, Genesee Valley Trust Co. increased its stake in shares of Liberty Property Trust by 2.9% in the second quarter. Genesee Valley Trust Co. now owns 7,222 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.
Shares of Liberty Property Trust (NYSE:LPT) traded down 0.23% on Tuesday, hitting $39.64. The company had a trading volume of 880,281 shares. Liberty Property Trust has a 12-month low of $26.94 and a 12-month high of $42.26. The firm has a 50 day moving average of $40.42 and a 200-day moving average of $37.37. The firm has a market capitalization of $5.82 billion, a P/E ratio of 21.03 and a beta of 1.04.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Liberty Property Trust had a return on equity of 9.36% and a net margin of 35.96%. The business earned $186.65 million during the quarter, compared to analysts’ expectations of $191.42 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities analysts predict that Liberty Property Trust will post $2.35 EPS for the current 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 paid 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 dividend yield of 4.79%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 101.06%.
LPT has been the subject of several research analyst reports. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, June 20th. Morgan Stanley initiated coverage on Liberty Property Trust in a research note on Tuesday, September 6th. They issued an “equal weight” rating and a $38.00 price objective for the company. BTIG Research initiated coverage on Liberty Property Trust in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, Citigroup Inc. increased their price objective on Liberty Property Trust from $34.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Liberty Property Trust presently 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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