Resources Management Corp CT ADV bought a new position in Liberty Property Trust (NYSE:LPT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 41,616 shares of the real estate investment trust’s stock, valued at approximately $2,136,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ropes Wealth Advisors LLC bought a new stake in shares of Liberty Property Trust during the third quarter valued at about $36,000. KCS Wealth Advisory purchased a new stake in shares of Liberty Property Trust in the third quarter worth about $46,000. Meeder Asset Management Inc. lifted its holdings in shares of Liberty Property Trust by 432.8% in the second quarter. Meeder Asset Management Inc. now owns 1,252 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,017 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Liberty Property Trust in the second quarter valued at approximately $100,000. Finally, Assetmark Inc. boosted its position in shares of Liberty Property Trust by 27.5% in the second quarter. Assetmark Inc. now owns 3,912 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 844 shares during the period. Institutional investors and hedge funds own 91.42% of the company’s stock.
In related news, CAO Mary Beth Morrissey sold 2,741 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $51.26, for a total value of $140,503.66. Following the transaction, the chief accounting officer now directly owns 50,559 shares in the company, valued at $2,591,654.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
NYSE LPT traded up $0.30 during trading on Wednesday, reaching $61.39. The company’s stock had a trading volume of 1,081,008 shares, compared to its average volume of 1,062,159. The stock has a market capitalization of $9.72 billion, a PE ratio of 27.90, a P/E/G ratio of 4.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 7.33 and a quick ratio of 7.33. The firm has a fifty day moving average of $57.43 and a 200 day moving average of $52.40. Liberty Property Trust has a one year low of $40.15 and a one year high of $62.53.
Liberty Property Trust (NYSE:LPT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. Liberty Property Trust had a return on equity of 5.79% and a net margin of 64.23%. The firm had revenue of $163.20 million during the quarter, compared to the consensus estimate of $163.43 million. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts expect that Liberty Property Trust will post 2.54 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Liberty Property Trust from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a research note on Thursday, November 28th. ValuEngine cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of Liberty Property Trust from $49.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on shares of Liberty Property Trust from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Co lowered shares of Liberty Property Trust from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $57.00 to $59.00 in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $53.83.
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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