Liberty Property Trust (LPT) Stock Rating Upgraded by Zacks Investment Research
Liberty Property Trust (NYSE:LPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Shares of Liberty Property have outperformed its industry over the past three months. Moreover, the recent trend in estimate revisions for 2018 funds from operations (FFO) per share indicates a favorable outlook for the company. Leveraging on the strong fundamentals of industrial real estate market, the company is focusing to expand its industrial portfolio through strategic acquisitions and development. Also, it is disposing non-core office properties to pursue such expansion opportunities. However, large scale dispositions will likely have a dilutive impact on the company’s earnings in the near term. Rate hike and protectionist trade policies add to its woes.”
A number of other analysts also recently issued reports on the stock. ValuEngine upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Mitsubishi UFJ Financial Group decreased their price objective on shares of Liberty Property Trust from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.83.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. Liberty Property Trust had a net margin of 59.89% and a return on equity of 6.68%. The business had revenue of $121.51 million during the quarter, compared to the consensus estimate of $119.79 million. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Liberty Property Trust will post 2.65 EPS for the current fiscal year.
In other Liberty Property Trust news, CAO Mary Beth Morrissey sold 6,843 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $45.52, for a total transaction of $311,493.36. Following the completion of the transaction, the chief accounting officer now owns 73,778 shares in the company, valued at $3,358,374.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of LPT. Bessemer Group Inc. boosted its position in shares of Liberty Property Trust by 723.5% in the third quarter. Bessemer Group Inc. now owns 3,788 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 3,328 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Liberty Property Trust in the second quarter valued at approximately $168,000. Nordea Investment Management AB purchased a new stake in Liberty Property Trust in the third quarter valued at approximately $161,000. US Bancorp DE raised its stake in Liberty Property Trust by 108.5% in the second quarter. US Bancorp DE now owns 4,363 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 2,270 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in Liberty Property Trust in the third quarter valued at approximately $193,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of industrial and office properties. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
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