$167.90 Million in Sales Expected for Liberty Property Trust (LPT) This Quarter
Wall Street analysts expect Liberty Property Trust (NYSE:LPT) to report sales of $167.90 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Liberty Property Trust’s earnings, with the highest sales estimate coming in at $172.30 million and the lowest estimate coming in at $164.93 million. Liberty Property Trust posted sales of $190.86 million in the same quarter last year, which would indicate a negative year over year growth rate of 12%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, October 24th.
According to Zacks, analysts expect that Liberty Property Trust will report full-year sales of $167.90 million for the current fiscal year, with estimates ranging from $662.94 million to $713.00 million. For the next year, analysts expect that the business will post sales of $719.73 million per share, with estimates ranging from $683.96 million to $760.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Liberty Property Trust.
Liberty Property Trust (NYSE:LPT) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Liberty Property Trust had a return on equity of 11.37% and a net margin of 47.24%. The business had revenue of $183.13 million during the quarter, compared to the consensus estimate of $175.60 million. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis.
LPT has been the subject of several recent research reports. Zacks Investment Research raised Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, August 24th. BidaskClub cut Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price on shares of Liberty Property Trust in a report on Thursday, July 6th. Finally, KeyCorp reissued a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.60.
Shares of Liberty Property Trust (LPT) traded down 0.31% during midday trading on Wednesday, hitting $41.92. The stock had a trading volume of 714,773 shares. The firm has a market cap of $6.18 billion, a PE ratio of 17.93 and a beta of 0.88. Liberty Property Trust has a 12-month low of $36.22 and a 12-month high of $43.70. The firm has a 50-day moving average of $42.12 and a 200 day moving average of $41.35.
Liberty Property Trust declared that its board has initiated a stock buyback program on Monday, October 2nd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.82%. Liberty Property Trust’s payout ratio is 68.38%.
Several large investors have recently bought and sold shares of the company. Eqis Capital Management Inc. boosted its position in shares of Liberty Property Trust by 25.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 10,297 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 2,117 shares during the last quarter. Achmea Investment Management B.V. boosted its position in shares of Liberty Property Trust by 6.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 49,592 shares of the real estate investment trust’s stock worth $2,016,000 after purchasing an additional 2,860 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Liberty Property Trust by 31.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,486 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 2,286 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Liberty Property Trust by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 86,453 shares of the real estate investment trust’s stock worth $3,519,000 after purchasing an additional 722 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new position in shares of Liberty Property Trust in the 2nd quarter worth $486,000. Institutional investors and hedge funds own 91.65% of the company’s stock.
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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