Liberty Property Trust (LPT) Earns “Equal Weight” Rating from Morgan Stanley
Morgan Stanley restated their equal weight rating on shares of Liberty Property Trust (NYSE:LPT) in a report released on Thursday morning. Morgan Stanley currently has a $43.00 target price on the real estate investment trust’s stock.
Several other equities research analysts have also issued reports on the company. ValuEngine upgraded Liberty Property Trust from a hold rating to a buy rating in a report on Friday, November 10th. Zacks Investment Research upgraded Liberty Property Trust from a hold rating to a buy rating and set a $48.00 price target for the company in a report on Tuesday, September 12th. Stifel Nicolaus reiterated a buy rating and set a $44.00 price target on shares of Liberty Property Trust in a report on Thursday, September 21st. Sandler O’Neill upgraded Liberty Property Trust from a sell rating to a hold rating and set a $45.00 price target for the company in a report on Wednesday, October 25th. Finally, KeyCorp reiterated a hold rating on shares of Liberty Property Trust in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $43.75.
Shares of Liberty Property Trust (LPT) opened at $44.01 on Thursday. Liberty Property Trust has a 1 year low of $37.21 and a 1 year high of $45.40. The company has a market capitalization of $6,489.34, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.88 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.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. Liberty Property Trust’s dividend payout ratio is 67.51%.
Liberty Property Trust announced that its Board of Directors has initiated a stock buyback plan on Monday, October 2nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director David L. Lingerfelt sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.56, for a total value of $802,080.00. Following the transaction, the director now directly owns 56,814 shares of the company’s stock, valued at approximately $2,531,631.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of LPT. Fieldpoint Private Securities LLC bought a new position in shares of Liberty Property Trust in the 3rd quarter valued at approximately $100,000. Advisor Group Inc. raised its stake in shares of Liberty Property Trust by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 98 shares in the last quarter. Commonwealth Bank of Australia raised its stake in shares of Liberty Property Trust by 4.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 143 shares in the last quarter. Spectrum Management Group Inc. bought a new position in shares of Liberty Property Trust in the 3rd quarter valued at approximately $168,000. Finally, Emerald Advisers Inc. PA bought a new position in shares of Liberty Property Trust in the 3rd quarter valued at approximately $208,000. 91.46% of the stock is currently owned by institutional investors and hedge funds.
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Liberty Property Trust Company Profile
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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