Public Employees Retirement System of Ohio lessened its holdings in Liberty Property Trust (NYSE:LPT) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,992 shares of the real estate investment trust’s stock after selling 14,658 shares during the quarter. Public Employees Retirement System of Ohio owned 0.16% of Liberty Property Trust worth $9,800,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in LPT. Northwood Liquid Management LP acquired a new position in shares of Liberty Property Trust in the fourth quarter valued at about $9,843,000. BlackRock Inc. grew its stake in Liberty Property Trust by 2.4% during 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 in the last quarter. Hill Winds Capital LP acquired a new stake in Liberty Property Trust during the fourth quarter worth about $7,957,000. Nisa Investment Advisors LLC grew its stake in Liberty Property Trust by 7.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 68,726 shares of the real estate investment trust’s stock worth $2,878,000 after buying an additional 4,963 shares in the last quarter. Finally, Zimmer Partners LP grew its stake in Liberty Property Trust by 95.0% during the third quarter. Zimmer Partners LP now owns 487,500 shares of the real estate investment trust’s stock worth $20,597,000 after buying an additional 237,500 shares in the last quarter. 94.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of LPT traded up $0.40 during mid-day trading on Friday, reaching $48.36. The company had a trading volume of 623,895 shares, compared to its average volume of 701,297. Liberty Property Trust has a 1-year low of $39.12 and a 1-year high of $49.77. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.91. The company has a market cap of $7.16 billion, a P/E ratio of 21.98, a PEG ratio of 3.13 and a beta of 0.77.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 29th. This is a positive change from Liberty Property Trust’s previous quarterly dividend of $0.40. Liberty Property Trust’s dividend payout ratio (DPR) is 74.55%.
In other Liberty Property Trust news, CIO Michael T. Hagan sold 27,626 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $47.22, for a total transaction of $1,304,499.72. Following the completion of the transaction, the executive now owns 194,052 shares in the company, valued at approximately $9,163,135.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mary Beth Morrissey sold 6,237 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $46.75, for a total transaction of $291,579.75. Following the transaction, the chief accounting officer now owns 60,698 shares of the company’s stock, valued at approximately $2,837,631.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,063 shares of company stock valued at $1,700,007. 1.20% of the stock is owned by company insiders.
A number of brokerages have issued reports on LPT. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, April 9th. SunTrust Banks downgraded shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Mitsubishi UFJ Financial Group downgraded shares of Liberty Property Trust from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $42.00 in a research note on Friday, January 4th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.17.
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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 superior logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 106 million square foot operating portfolio provides productive work environments to 1,200 tenants.
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