Oppenheimer & Co. Inc. cut its position in Liberty Property Trust (NYSE:LPT) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,600 shares of the real estate investment trust’s stock after selling 3,500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Liberty Property Trust were worth $1,724,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in LPT. Vanguard Group Inc lifted its stake in Liberty Property Trust by 0.5% in the third quarter. Vanguard Group Inc now owns 21,713,904 shares of the real estate investment trust’s stock valued at $917,412,000 after acquiring an additional 98,884 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Liberty Property Trust by 2.4% in the fourth quarter. BlackRock Inc. now owns 20,474,937 shares of the real estate investment trust’s stock worth $857,491,000 after buying an additional 478,128 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Liberty Property Trust by 81.8% in the fourth quarter. Cohen & Steers Inc. now owns 6,274,563 shares of the real estate investment trust’s stock worth $262,779,000 after buying an additional 2,823,846 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Liberty Property Trust by 108.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,979,397 shares of the real estate investment trust’s stock worth $208,537,000 after buying an additional 2,592,559 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Liberty Property Trust by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 3,276,931 shares of the real estate investment trust’s stock worth $138,450,000 after buying an additional 597,054 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.
In related news, CIO Michael T. Hagan sold 27,626 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $47.22, for a total transaction of $1,304,499.72. Following the completion of the sale, the executive now directly owns 194,052 shares of the company’s stock, valued at approximately $9,163,135.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mary Beth Morrissey sold 5,870 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $49.97, for a total value of $293,323.90. Following the sale, the chief accounting officer now directly owns 57,621 shares of the company’s stock, valued at $2,879,321.37. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
NYSE:LPT traded down $0.12 during mid-day trading on Wednesday, reaching $48.53. 435,500 shares of the company were exchanged, compared to its average volume of 842,197. Liberty Property Trust has a 12 month low of $39.82 and a 12 month high of $50.48. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.92. The firm has a market cap of $7.13 billion, a P/E ratio of 22.06, a P/E/G ratio of 3.10 and a beta of 0.77.
Liberty Property Trust (NYSE:LPT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Liberty Property Trust had a net margin of 57.53% and a return on equity of 4.61%. The company had revenue of $156.89 million for the quarter, compared to the consensus estimate of $126.10 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Liberty Property Trust will post 2.58 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Goldman Sachs Group started coverage on shares of Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.57.
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Liberty Property Trust Company Profile
Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 108 million square foot operating portfolio provides productive work environments to 1,200 tenants.
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