Liberty Property Trust (LPT) Position Boosted by State of Alaska Department of Revenue
State of Alaska Department of Revenue raised its stake in shares of Liberty Property Trust (NYSE:LPT) by 29.8% during the first quarter, Holdings Channel reports. The institutional investor owned 72,480 shares of the real estate investment trust’s stock after buying an additional 16,620 shares during the period. State of Alaska Department of Revenue’s holdings in Liberty Property Trust were worth $2,793,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in Liberty Property Trust by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 37,100 shares of the real estate investment trust’s stock valued at $1,430,000 after buying an additional 800 shares during the period. 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 valued at $570,000 after buying an additional 190 shares during the period. Bank of Montreal Can raised its stake in Liberty Property Trust by 407.4% in the first quarter. Bank of Montreal Can now owns 1,082,608 shares of the real estate investment trust’s stock valued at $41,734,000 after buying an additional 869,239 shares during the period. Gulf International Bank UK Ltd raised its stake in Liberty Property Trust by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 49,039 shares of the real estate investment trust’s stock valued at $1,890,000 after buying an additional 700 shares during the period. Finally, Pensionfund Sabic raised its stake in Liberty Property Trust by 7.7% in the first quarter. Pensionfund Sabic now owns 27,984 shares of the real estate investment trust’s stock valued at $1,079,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.
Liberty Property Trust (NYSE:LPT) traded up 0.37% during midday trading on Friday, reaching $40.91. The company’s stock had a trading volume of 385,879 shares. Liberty Property Trust has a 52 week low of $33.89 and a 52 week high of $42.26. The firm has a market capitalization of $6.01 billion, a P/E ratio of 16.84 and a beta of 0.89. The company’s 50-day moving average is $39.05 and its 200 day moving average is $39.20.
Liberty Property Trust (NYSE:LPT) last released its earnings results on Tuesday, February 7th. The real estate investment trust reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The firm earned $179.10 million during the quarter, compared to analysts’ expectations of $181.74 million. Liberty Property Trust had a net margin of 47.78% and a return on equity of 12.02%. Liberty Property Trust’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Analysts expect that Liberty Property Trust will post $1.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Shareholders of record on Friday, March 31st were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.93%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 78.19%.
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LPT has been the subject of several research reports. Capital One Financial Corp. lowered Liberty Property Trust from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research note on Monday, February 13th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 price objective on shares of Liberty Property Trust in a research note on Wednesday, March 22nd. Zacks Investment Research upgraded Liberty Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, January 9th. Finally, Mitsubishi UFJ Financial Group lowered Liberty Property Trust from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $50.00 to $46.00 in a research note on Friday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Liberty Property Trust presently has an average rating of “Hold” and a consensus target price of $41.71.
In related news, Director Fredric J. Tomczyk purchased 5,000 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were bought at an average price of $38.85 per share, for a total transaction of $194,250.00. Following the acquisition, the director now directly owns 12,583 shares in the company, valued at $488,849.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by company insiders.
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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