Principal Financial Group Inc. lowered its holdings in shares of Liberty Property Trust (NYSE:LPT) by 17.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,649,066 shares of the real estate investment trust’s stock after selling 339,943 shares during the quarter. Principal Financial Group Inc. owned about 1.12% of Liberty Property Trust worth $67,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LPT. Advisor Group Inc. grew its stake in 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 buying an additional 98 shares during the last quarter. Commonwealth Bank of Australia grew its stake in 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 buying an additional 143 shares during the last quarter. World Asset Management Inc grew its stake in Liberty Property Trust by 1.7% in the 2nd quarter. World Asset Management Inc now owns 11,453 shares of the real estate investment trust’s stock valued at $466,000 after buying an additional 196 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Liberty Property Trust by 0.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,893 shares of the real estate investment trust’s stock valued at $1,298,000 after buying an additional 213 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Liberty Property Trust by 3.2% in the 2nd quarter. CIBC Asset Management Inc now owns 10,886 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 342 shares during the last quarter. Institutional investors and hedge funds own 91.39% of the company’s stock.

A number of research firms recently issued reports on LPT. ValuEngine upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 target price on shares of Liberty Property Trust in a research note on Thursday, September 21st. Sandler O’Neill upgraded shares of Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research note on Wednesday, October 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Liberty Property Trust in a research note on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.17.

TRADEMARK VIOLATION WARNING: This report was first posted by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.watchlistnews.com/principal-financial-group-inc-sells-339943-shares-of-liberty-property-trust-lpt/1702215.html.

Shares of Liberty Property Trust (NYSE LPT) opened at $44.87 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.93. Liberty Property Trust has a 12-month low of $36.31 and a 12-month high of $45.08. The firm has a market cap of $6,573.37, a PE ratio of 19.22, a PEG ratio of 2.91 and a beta of 0.87.

Liberty Property Trust (NYSE:LPT) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.23). Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. The business had revenue of $193.65 million for the quarter, compared to analyst estimates of $174.65 million. During the same quarter last year, the firm posted $0.66 earnings per share. Liberty Property Trust’s revenue was up 1.5% on a year-over-year basis. analysts anticipate that Liberty Property Trust will post 2.56 earnings per share for the current year.

Liberty Property Trust declared that its Board of Directors has initiated a stock repurchase 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 purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date was Friday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.57%. Liberty Property Trust’s dividend payout ratio (DPR) is currently 67.51%.

Liberty Property Trust 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).

Want to see what other hedge funds are holding LPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Liberty Property Trust (NYSE:LPT).

Institutional Ownership by Quarter for Liberty Property Trust (NYSE:LPT)

Receive News & Ratings for Liberty Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Property Trust and related companies with Analyst Ratings Network's FREE daily email newsletter.