Liberty Property Trust (NYSE:LPT) Hits New 12-Month High at $53.38
Liberty Property Trust (NYSE:LPT) hit a new 52-week high during trading on Monday . The company traded as high as $53.38 and last traded at $53.28, with a volume of 5948 shares changing hands. The stock had previously closed at $52.67.
A number of equities research analysts recently commented on the company. Goldman Sachs Group assumed coverage on Liberty Property Trust in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 target price on the stock. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.25.
The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.77 and a current ratio of 2.77. The stock has a 50-day moving average of $50.75. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 3.40 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.41 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.64 annualized dividend and a yield of 3.09%. Liberty Property Trust’s dividend payout ratio is presently 74.55%.
In other Liberty Property Trust news, CAO Mary Beth Morrissey sold 5,870 shares of the company’s 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 owns 57,621 shares in the company, valued at approximately $2,879,321.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in LPT. Northern Trust Corp raised its stake in Liberty Property Trust by 0.9% in the 1st quarter. Northern Trust Corp now owns 2,425,855 shares of the real estate investment trust’s stock valued at $117,460,000 after purchasing an additional 20,799 shares during the last quarter. Deutsche Bank AG raised its stake in Liberty Property Trust by 305.9% in the 4th quarter. Deutsche Bank AG now owns 2,061,811 shares of the real estate investment trust’s stock valued at $86,343,000 after purchasing an additional 1,553,824 shares during the last quarter. Geode Capital Management LLC raised its stake in Liberty Property Trust by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 1,968,261 shares of the real estate investment trust’s stock valued at $82,387,000 after purchasing an additional 133,477 shares during the last quarter. Norges Bank acquired a new position in Liberty Property Trust in the 4th quarter valued at $62,405,000. Finally, FMR LLC raised its stake in Liberty Property Trust by 12.3% in the 1st quarter. FMR LLC now owns 1,008,455 shares of the real estate investment trust’s stock valued at $48,829,000 after purchasing an additional 110,606 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.
About Liberty Property Trust (NYSE:LPT)
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.
See Also: What is the float in trading stocks?
Receive News & Ratings for Liberty Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.