Liberty Property Trust (NYSE:LPT) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 2,440,400 shares, a growth of 122.5% from the May 30th total of 1,096,900 shares. Based on an average daily volume of 744,100 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.7% of the company’s stock are short sold.
In other Liberty Property Trust news, CAO Mary Beth Morrissey sold 5,870 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $49.97, for a total value of $293,323.90. Following the completion of the transaction, the chief accounting officer now directly owns 57,621 shares in the company, valued at $2,879,321.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Northwood Liquid Management LP purchased a new stake in shares of Liberty Property Trust during the fourth quarter worth about $9,843,000. AlphaCrest Capital Management LLC purchased a new stake in Liberty Property Trust in the first quarter valued at approximately $606,000. Laurion Capital Management LP purchased a new stake in Liberty Property Trust in the first quarter valued at approximately $1,658,000. Pictet Asset Management Ltd. boosted its position in Liberty Property Trust by 28.6% in the first quarter. Pictet Asset Management Ltd. now owns 106,150 shares of the real estate investment trust’s stock valued at $5,140,000 after buying an additional 23,600 shares during the last quarter. Finally, Stevens Capital Management LP boosted its position in Liberty Property Trust by 133.1% in the first quarter. Stevens Capital Management LP now owns 30,811 shares of the real estate investment trust’s stock valued at $1,492,000 after buying an additional 17,594 shares during the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.
A number of equities analysts have commented on the stock. Goldman Sachs Group assumed coverage on shares of Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 target price for the company. Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.17.
Liberty Property Trust stock traded down $0.78 during trading hours on Thursday, reaching $50.94. The stock had a trading volume of 1,300,800 shares, compared to its average volume of 804,157. The company has a market capitalization of $7.64 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $49.69. Liberty Property Trust has a 52 week low of $39.82 and a 52 week high of $51.91.
Liberty Property Trust (NYSE:LPT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $156.89 million during the quarter, compared to the consensus estimate of $126.10 million. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Liberty Property Trust will post 2.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.22%. Liberty Property Trust’s payout ratio is 74.55%.
About Liberty Property Trust
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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