Liberty Property Trust (NYSE:LPT) – Equities researchers at KeyCorp dropped their FY2019 earnings estimates for shares of Liberty Property Trust in a note issued to investors on Tuesday, September 24th, Zacks Investment Research reports. KeyCorp analyst C. Mailman now anticipates that the real estate investment trust will post earnings per share of $2.57 for the year, down from their previous estimate of $2.58. KeyCorp also issued estimates for Liberty Property Trust’s FY2020 earnings at $2.64 EPS.
LPT has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Liberty Property Trust from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. ValuEngine downgraded shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on shares of Liberty Property Trust from $49.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Co upped their price target on shares of Liberty Property Trust from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Liberty Property Trust has an average rating of “Hold” and an average target price of $51.67.
Shares of Liberty Property Trust stock traded up $0.16 during trading hours on Friday, reaching $51.00. The stock had a trading volume of 709,667 shares, compared to its average volume of 985,049. The stock’s 50 day moving average is $51.29 and its 200 day moving average is $50.23. The firm has a market capitalization of $7.55 billion, a PE ratio of 23.18, a PEG ratio of 3.30 and a beta of 0.75. Liberty Property Trust has a twelve month low of $39.82 and a twelve month high of $53.39. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.91.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in Liberty Property Trust by 2.1% during the 2nd quarter. Van ECK Associates Corp now owns 34,581 shares of the real estate investment trust’s stock valued at $1,730,000 after acquiring an additional 711 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Liberty Property Trust by 17.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,038,559 shares of the real estate investment trust’s stock valued at $51,969,000 after acquiring an additional 157,058 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Liberty Property Trust by 295.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,584,673 shares of the real estate investment trust’s stock valued at $79,297,000 after acquiring an additional 1,184,017 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Liberty Property Trust during the 1st quarter valued at about $606,000. Finally, Prudential Financial Inc. grew its stake in Liberty Property Trust by 30.4% during the 2nd quarter. Prudential Financial Inc. now owns 114,671 shares of the real estate investment trust’s stock valued at $5,738,000 after acquiring an additional 26,740 shares in the last quarter. 92.86% of the stock is owned by institutional investors.
In related news, CAO Mary Beth Morrissey sold 2,741 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $51.26, for a total transaction of $140,503.66. Following the completion of the transaction, the chief accounting officer now owns 50,559 shares in the company, valued at approximately $2,591,654.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.64 annualized dividend and a dividend yield of 3.22%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 74.55%.
About Liberty Property Trust
Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 108 million square foot operating portfolio provides productive work environments to 1,200 tenants.
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