Morgan Stanley Increases Liberty Property Trust (LPT) Price Target to $44.00
Liberty Property Trust (NYSE:LPT) had its target price boosted by Morgan Stanley from $43.00 to $44.00 in a report released on Friday. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target indicates a potential downside of 0.02% from the stock’s previous close.
LPT has been the subject of several other reports. Sandler O’Neill raised shares of Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a report on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a report on Thursday, September 21st. ValuEngine raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, KeyCorp reissued a “hold” rating on shares of Liberty Property Trust in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $43.75.
Liberty Property Trust (NYSE:LPT) opened at $44.01 on Friday. The stock has a market cap of $6,477.55, a P/E ratio of 18.94, a PEG ratio of 2.87 and a beta of 0.88. Liberty Property Trust has a 52 week low of $37.21 and a 52 week high of $45.40. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.93.
Liberty Property Trust declared that its board has authorized a stock repurchase plan on Monday, October 2nd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other Liberty Property Trust news, Director David L. Lingerfelt sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $44.56, for a total transaction of $802,080.00. Following the completion of the sale, the director now directly owns 56,814 shares of the company’s stock, valued at $2,531,631.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Harrington Investments INC purchased a new stake in Liberty Property Trust during the third quarter valued at approximately $834,000. Pacer Advisors Inc. increased its holdings in Liberty Property Trust by 3.0% during the second quarter. Pacer Advisors Inc. now owns 27,095 shares of the real estate investment trust’s stock valued at $1,103,000 after buying an additional 792 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Liberty Property Trust by 21.0% during the second quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock valued at $152,125,000 after buying an additional 649,069 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Liberty Property Trust by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,133,207 shares of the real estate investment trust’s stock valued at $86,844,000 after buying an additional 119,503 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Liberty Property Trust by 231.7% during the second quarter. Renaissance Technologies LLC now owns 571,800 shares of the real estate investment trust’s stock valued at $23,278,000 after buying an additional 399,424 shares during the last quarter. 91.46% of the stock is owned by institutional investors and hedge funds.
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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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