Manning & Napier Group LLC lowered its position in Liberty Property Trust (NYSE:LPT) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,485 shares of the real estate investment trust’s stock after selling 1,295 shares during the quarter. Manning & Napier Group LLC owned approximately 0.10% of Liberty Property Trust worth $7,431,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LPT. Northwood Liquid Management LP bought a new stake in Liberty Property Trust during the 4th quarter worth approximately $9,843,000. BlackRock Inc. boosted its position in Liberty Property Trust by 2.4% in the 4th quarter. BlackRock Inc. now owns 20,474,937 shares of the real estate investment trust’s stock valued at $857,491,000 after buying an additional 478,128 shares during the last quarter. Hill Winds Capital LP bought a new position in Liberty Property Trust in the 4th quarter valued at $7,957,000. Nisa Investment Advisors LLC boosted its position in Liberty Property Trust by 7.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 68,726 shares of the real estate investment trust’s stock valued at $2,878,000 after buying an additional 4,963 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its position in Liberty Property Trust by 17,341.0% in the 4th quarter. Commonwealth Bank of Australia now owns 261,266 shares of the real estate investment trust’s stock valued at $11,120,000 after buying an additional 259,768 shares during the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.
LPT stock traded up $0.31 during trading hours on Friday, reaching $49.50. 712,645 shares of the stock were exchanged, compared to its average volume of 817,766. The stock has a market cap of $7.34 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 3.21 and a beta of 0.77. The company has a current ratio of 2.77, a quick ratio of 2.68 and a debt-to-equity ratio of 0.92. Liberty Property Trust has a 12 month low of $39.82 and a 12 month high of $50.48.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.41 dividend. This is a boost from Liberty Property Trust’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.64 annualized dividend and a dividend yield of 3.31%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 74.55%.
In other news, CIO Michael T. Hagan sold 27,626 shares of Liberty Property Trust stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $47.22, for a total value of $1,304,499.72. Following the completion of the sale, the executive now directly owns 194,052 shares in the company, valued at $9,163,135.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David L. Lingerfelt sold 2,200 shares of Liberty Property Trust stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $47.24, for a total transaction of $103,928.00. Following the completion of the sale, the director now owns 50,915 shares of the company’s stock, valued at $2,405,224.60. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on LPT shares. SunTrust Banks downgraded Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Mitsubishi UFJ Financial Group downgraded Liberty Property Trust from an “overweight” rating to a “neutral” rating and cut their price target for the company from $47.00 to $42.00 in a research note on Friday, January 4th. Finally, Zacks Investment Research raised Liberty Property Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $46.17.
Liberty Property Trust Company Profile
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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