Liberty Property Trust (LPT) Upgraded to Buy at Zacks Investment Research
Liberty Property Trust (NYSE:LPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $48.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.73% from the company’s previous close.
According to Zacks, “Shares of Liberty Property have outperformed the industry it belongs to, year to date. The Zacks Consensus Estimate for current-year funds from operations (FFO) per share remained unchanged in a month’s time. The company’s premium quality industrial properties located in strategic locations will enable it to capitalize from the increasing demand amid an e-commerce boom and a healthy manufacturing environment. Also, it is poised for growth as fundamentals of the industrial real estate market remain robust, resulting in solid rent growth, enhanced occupancy and development opportunities. Notably, the company’s industrial portfolio was 95.9% leased at the end of second-quarter 2017, reflecting strong demand for space. However, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
Several other brokerages have also issued reports on LPT. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a research note on Friday, August 25th. BidaskClub lowered Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 price target on shares of Liberty Property Trust in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Liberty Property Trust has an average rating of “Hold” and a consensus price target of $43.60.
Liberty Property Trust (NYSE LPT) opened at 43.35 on Tuesday. The stock has a 50 day moving average price of $41.88 and a 200 day moving average price of $40.81. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 18.54 and a beta of 0.88. Liberty Property Trust has a 12 month low of $36.22 and a 12 month high of $43.36.
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 (EPS) for the quarter, beating the 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 firm had revenue of $183.13 million for the quarter, compared to analyst estimates of $175.60 million. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Liberty Property Trust will post $1.24 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Liberty Property Trust by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 23,649,942 shares of the real estate investment trust’s stock valued at $911,706,000 after purchasing an additional 695,589 shares during the period. BlackRock Inc. grew its stake in shares of Liberty Property Trust by 1,913.0% in the 1st quarter. BlackRock Inc. now owns 19,225,871 shares of the real estate investment trust’s stock valued at $741,156,000 after purchasing an additional 18,270,789 shares during the period. Morgan Stanley grew its stake in shares of Liberty Property Trust by 5.1% in the 1st quarter. Morgan Stanley now owns 5,691,514 shares of the real estate investment trust’s stock valued at $219,408,000 after purchasing an additional 276,677 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Liberty Property Trust by 21.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock valued at $152,125,000 after purchasing an additional 649,069 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Liberty Property Trust by 4.5% in the 2nd quarter. Royal Bank of Canada now owns 3,333,422 shares of the real estate investment trust’s stock valued at $135,704,000 after purchasing an additional 142,553 shares during the period. Institutional investors own 91.67% of the company’s stock.
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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