Prudential Financial Inc. Buys 331,010 Shares of Liberty Property Trust (LPT)

Prudential Financial Inc. increased its stake in Liberty Property Trust (NYSE:LPT) by 50.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 983,042 shares of the real estate investment trust’s stock after acquiring an additional 331,010 shares during the quarter. Prudential Financial Inc. owned approximately 0.67% of Liberty Property Trust worth $40,364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisor Group Inc. grew its holdings in shares of 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 worth $105,000 after acquiring an additional 98 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in shares of 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 worth $126,000 after acquiring an additional 143 shares during the last quarter. World Asset Management Inc grew its holdings in shares of 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 worth $466,000 after acquiring an additional 196 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 worth $1,298,000 after acquiring an additional 213 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of 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 worth $443,000 after acquiring an additional 342 shares during the last quarter. Institutional investors and hedge funds own 91.39% of the company’s stock.

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A number of equities analysts recently issued reports on the company. ValuEngine upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, August 16th. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Wednesday, October 25th. Stifel Nicolaus raised their target price on Liberty Property Trust from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Liberty Property Trust in a research report on Friday, August 25th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Liberty Property Trust presently has an average rating of “Hold” and a consensus target price of $44.17.

Shares of Liberty Property Trust (LPT) opened at $44.59 on Monday. The company has a market capitalization of $6,573.37, a price-to-earnings ratio of 19.22, a PEG ratio of 2.91 and a beta of 0.87. 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 has a 12-month low of $36.22 and a 12-month high of $44.89.

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

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 $0.40 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.59%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 67.51%.

Liberty Property Trust announced that its board has initiated a share 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 reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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

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