Zacks Investment Research Downgrades Liberty Property Trust (LPT) to Hold
Liberty Property Trust (NYSE:LPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Shares of Liberty Property have outperformed the industry it belongs to, year to date. However, the stock has seen the Zacks Consensus Estimate for current year funds from operations (FFO) per share being unchanged over the last seven days. In July, the company delivered a better-than-expected performance with respect to FFO per share and revenues. Recently, the company announced that it would develop a 220,000 square foot industrial building for global conveyance solutions leader, Intralox, at 7157 Ridge Road, in Hanover, MD. The company is poised for growth as fundamentals of the industrial real estate market remain solid, backed by growing demand, resulting in solid rent increase, enhanced occupancy and development opportunities. However, adverse near-term impact on earnings from dispositions and rise in interest rates remain concerns.”
Other analysts also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $44.00 price target on shares of Liberty Property Trust in a research report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a research report on Friday, August 25th. Finally, BidaskClub downgraded Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.50.
Liberty Property Trust (NYSE LPT) opened at 41.81 on Monday. Liberty Property Trust has a 12 month low of $36.22 and a 12 month high of $42.80. The firm has a 50-day moving average of $41.49 and a 200 day moving average of $40.53. The firm has a market capitalization of $6.16 billion, a PE ratio of 17.88 and a beta of 0.88.
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, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $183.13 million during the quarter, compared to the consensus estimate of $175.60 million. Liberty Property Trust had a return on equity of 11.37% and a net margin of 47.24%. Liberty Property Trust’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Equities research analysts forecast that Liberty Property Trust will post $1.24 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in LPT. Teachers Advisors LLC raised its stake in Liberty Property Trust by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 182,362 shares of the real estate investment trust’s stock worth $7,203,000 after buying an additional 25,870 shares during the last quarter. Capstone Asset Management Co. raised its stake in Liberty Property Trust by 1.3% in the first quarter. Capstone Asset Management Co. now owns 14,797 shares of the real estate investment trust’s stock worth $570,000 after buying an additional 190 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Liberty Property Trust by 5.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,920 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 206 shares during the last quarter. Profund Advisors LLC raised its stake in Liberty Property Trust by 2.8% in the first quarter. Profund Advisors LLC now owns 24,685 shares of the real estate investment trust’s stock worth $952,000 after buying an additional 681 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Liberty Property Trust by 178.5% in the first quarter. ProShare Advisors LLC now owns 148,414 shares of the real estate investment trust’s stock worth $2,026,000 after buying an additional 95,126 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.
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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