Korea Investment CORP trimmed its position in Liberty Property Trust (NYSE:LPT) by 80.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,495 shares of the real estate investment trust’s stock after selling 94,700 shares during the quarter. Korea Investment CORP’s holdings in Liberty Property Trust were worth $950,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake in shares of Liberty Property Trust by 5.5% in the 2nd quarter. Flinton Capital Management LLC now owns 22,100 shares of the real estate investment trust’s stock valued at $980,000 after acquiring an additional 1,156 shares during the period. Macquarie Group Ltd. raised its stake in shares of Liberty Property Trust by 50.3% in the 2nd quarter. Macquarie Group Ltd. now owns 261,654 shares of the real estate investment trust’s stock valued at $11,599,000 after acquiring an additional 87,520 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Liberty Property Trust in the 2nd quarter valued at approximately $1,655,000. Schwab Charles Investment Management Inc. raised its stake in shares of Liberty Property Trust by 5.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,765,863 shares of the real estate investment trust’s stock valued at $78,281,000 after acquiring an additional 98,897 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Liberty Property Trust in the 2nd quarter valued at approximately $1,768,000. 91.38% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, October 4th. ValuEngine raised shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Finally, Mitsubishi UFJ Financial Group reduced their price target on shares of Liberty Property Trust from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Liberty Property Trust has a consensus rating of “Buy” and an average price target of $45.00.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.36. The business had revenue of $121.51 million for the quarter, compared to the consensus estimate of $119.79 million. Liberty Property Trust had a net margin of 59.89% and a return on equity of 6.68%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. On average, research analysts forecast that Liberty Property Trust will post 2.64 EPS for the current year.
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About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of industrial and office properties. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
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