Jane Street Group LLC acquired a new stake in Liberty Property Trust (NYSE:LPT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,406 shares of the real estate investment trust’s stock, valued at approximately $263,000.
A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Liberty Property Trust by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock valued at $152,125,000 after purchasing an additional 649,069 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Liberty Property Trust by 4.5% during the second quarter. Royal Bank of Canada now owns 3,333,422 shares of the real estate investment trust’s stock valued at $135,704,000 after acquiring an additional 142,553 shares in the last quarter. PGGM Investments raised its holdings in shares of Liberty Property Trust by 4.9% during the third quarter. PGGM Investments now owns 2,997,000 shares of the real estate investment trust’s stock valued at $123,057,000 after acquiring an additional 139,000 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Liberty Property Trust by 6.3% during the second quarter. Northern Trust Corp now owns 2,279,886 shares of the real estate investment trust’s stock valued at $92,814,000 after acquiring an additional 135,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Liberty Property Trust by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,151,144 shares of the real estate investment trust’s stock valued at $88,328,000 after acquiring an additional 17,937 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
A number of equities analysts recently commented on LPT shares. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $44.00 target price on shares of Liberty Property Trust in a report on Thursday, September 21st. ValuEngine upgraded Liberty Property Trust from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley restated an “equal weight” rating and set a $43.00 target price on shares of Liberty Property Trust in a report on Thursday, December 14th. Finally, Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Liberty Property Trust presently has an average rating of “Hold” and an average target price of $43.75.
Shares of Liberty Property Trust (LPT) opened at $42.81 on Friday. The firm has a market capitalization of $6,324.23, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.81 and a beta of 0.88. Liberty Property Trust has a 12 month low of $37.21 and a 12 month high of $45.40. 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 (NYSE:LPT) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.23). The firm had revenue of $193.65 million during the quarter, compared to analysts’ expectations of $174.65 million. Liberty Property Trust had a return on equity of 11.41% and a net margin of 47.78%. Liberty Property Trust’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. analysts predict that Liberty Property Trust will post 2.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.60 annualized dividend and a yield of 3.74%. Liberty Property Trust’s payout ratio is 67.51%.
Liberty Property Trust announced that its Board of Directors has authorized a stock buyback program on Monday, October 2nd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Liberty Property Trust 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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