Sterling Capital Management LLC raised its stake in shares of Liberty Property Trust (NYSE:LPT) by 30.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,437 shares of the real estate investment trust’s stock after acquiring an additional 17,027 shares during the period. Sterling Capital Management LLC’s holdings in Liberty Property Trust were worth $3,015,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Advisor Group Inc. increased its position in shares of Liberty Property Trust by 3.9% during the second quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock valued at $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 second quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 143 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Liberty Property Trust by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,893 shares of the real estate investment trust’s stock valued at $1,298,000 after purchasing an additional 213 shares in the last quarter. GAM Holding AG grew its holdings in shares of Liberty Property Trust by 1.9% in the second quarter. GAM Holding AG now owns 20,456 shares of the real estate investment trust’s stock valued at $833,000 after purchasing an additional 381 shares in the last quarter. Finally, Aviva PLC grew its holdings in shares of Liberty Property Trust by 0.4% in the second quarter. Aviva PLC now owns 92,212 shares of the real estate investment trust’s stock valued at $3,755,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.
Shares of Liberty Property Trust (LPT) opened at $44.01 on Friday. Liberty Property Trust has a 12-month low of $37.21 and a 12-month high of $45.40. The company has a market cap of $6,489.34, a price-to-earnings ratio of 18.97, a P/E/G ratio of 2.88 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.78 and a quick ratio of 1.78.
Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.23). The firm had revenue of $193.65 million during the quarter, compared to analyst estimates of $174.65 million. Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. equities analysts forecast that Liberty Property Trust will post 2.55 earnings per share for the current year.
Liberty Property Trust declared that its board has authorized a share buyback program on Monday, October 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be paid a $0.40 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.60 annualized dividend and a yield of 3.64%. Liberty Property Trust’s dividend payout ratio is currently 67.51%.
In other Liberty Property Trust news, Director David L. Lingerfelt sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $44.56, for a total value of $802,080.00. Following the transaction, the director now directly owns 56,814 shares of the company’s stock, valued at approximately $2,531,631.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
Several research analysts have commented on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target on shares of Liberty Property Trust in a report on Thursday. J P Morgan Chase & Co cut shares of Liberty Property Trust from a “neutral” rating to an “underweight” rating and set a $41.00 price target for the company. in a report on Friday. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, August 24th. Stifel Nicolaus boosted their price target on shares of Liberty Property Trust from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, ValuEngine upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.75.
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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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