Macquarie Group Ltd. cut its position in shares of Liberty Property Trust (NYSE:LPT) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,307 shares of the real estate investment trust’s stock after selling 5,800 shares during the period. Macquarie Group Ltd.’s holdings in Liberty Property Trust were worth $1,820,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LPT. Advisor Group Inc. raised its stake in 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 worth $105,000 after purchasing an additional 98 shares during the period. Commonwealth Bank of Australia raised its stake 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 valued at $126,000 after acquiring an additional 143 shares during the period. Spectrum Management Group Inc. purchased a new stake in shares of Liberty Property Trust in the 3rd quarter valued at approximately $168,000. Emerald Advisers Inc. PA purchased a new stake in shares of Liberty Property Trust in the 3rd quarter valued at approximately $208,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of Liberty Property Trust in the 2nd quarter valued at approximately $212,000. 91.46% of the stock is currently owned by institutional investors.
In other Liberty Property Trust news, Director David L. Lingerfelt sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $44.56, for a total transaction of $802,080.00. Following the completion of the transaction, the director now owns 56,814 shares in the company, valued at approximately $2,531,631.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.23). Liberty Property Trust had a return on equity of 11.41% and a net margin of 47.78%. The firm had revenue of $193.65 million for the quarter, compared to analyst estimates of $174.65 million. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue was up 1.5% on a year-over-year basis. research analysts predict that Liberty Property Trust will post 2.55 earnings per share for the current year.
Liberty Property Trust declared that its board has approved a stock repurchase program 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. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have recently issued reports on LPT. ValuEngine raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Sandler O’Neill raised shares of Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Wednesday, October 25th. Stifel Nicolaus boosted their price target on shares of Liberty Property Trust from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of Liberty Property Trust in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Liberty Property Trust currently has a consensus rating of “Hold” and an average target price of $44.17.
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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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