Tokio Marine Asset Management Co. Ltd. decreased its stake in Liberty Property Trust (NYSE:LPT) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,302 shares of the real estate investment trust’s stock after selling 434 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Liberty Property Trust were worth $290,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPT. Legal & General Group Plc raised its position in Liberty Property Trust by 3.3% in the first quarter. Legal & General Group Plc now owns 883,262 shares of the real estate investment trust’s stock valued at $29,553,000 after buying an additional 28,365 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new position in Liberty Property Trust during the first quarter valued at approximately $78,144,000. Royal Bank of Canada raised its position in Liberty Property Trust by 5.6% in the first quarter. Royal Bank of Canada now owns 2,847,251 shares of the real estate investment trust’s stock valued at $95,269,000 after buying an additional 152,216 shares in the last quarter. Geode Capital Management LLC raised its position in Liberty Property Trust by 4.7% in the first quarter. Geode Capital Management LLC now owns 1,182,104 shares of the real estate investment trust’s stock valued at $39,539,000 after buying an additional 53,472 shares in the last quarter. Finally, Prudential PLC raised its position in Liberty Property Trust by 44.4% in the first quarter. Prudential PLC now owns 10,400 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Shares of Liberty Property Trust (NYSE:LPT) traded down 0.30% during mid-day trading on Friday, reaching $39.91. The company’s stock had a trading volume of 727,591 shares. Liberty Property Trust has a 52 week low of $26.94 and a 52 week high of $42.26. The firm has a 50-day moving average of $40.19 and a 200-day moving average of $38.35. The firm has a market capitalization of $5.86 billion, a PE ratio of 21.17 and a beta of 0.97.
Liberty Property Trust (NYSE:LPT) last posted its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company earned $186.65 million during the quarter, compared to analysts’ expectations of $191.42 million. Liberty Property Trust had a net margin of 35.96% and a return on equity of 9.36%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Equities research analysts forecast that Liberty Property Trust will post $2.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.475 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.76%. Liberty Property Trust’s payout ratio is currently 101.06%.
Several research analysts have recently commented on LPT shares. BTIG Research began coverage on Liberty Property Trust in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Zacks Investment Research lowered Liberty Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Capital One Financial Corp. upgraded Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 target price for the company in a report on Tuesday, October 4th. Morgan Stanley began coverage on Liberty Property Trust in a report on Tuesday, September 6th. They issued an “equal weight” rating and a $38.00 target price for the company. Finally, Citigroup Inc. lifted their target price on Liberty Property Trust from $34.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.57.
Liberty Property Trust Company Profile
Liberty Property Trust is a real estate investment trust. The Company’s operations are primarily conducted by its subsidiary, Liberty Property Limited Partnership. Its segments include Carolinas; Chicago/Milwaukee; Houston, Lehigh/Central PA; Minnesota; Orlando; Philadelphia; Richmond/Hampton Roads; Southeastern PA; South Florida; Tampa; United Kingdom, and Other, which includes Arizona, Atlanta, Cincinnati/Columbus/Indianapolis, Dallas, Maryland, New Jersey, Northern Virginia, Southern California, Washington DC and other segments.
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