Honeywell International Inc. Has $1.01 Million Holdings in Liberty Property Trust (LPT)
Honeywell International Inc. raised its stake in shares of Liberty Property Trust (NYSE:LPT) by 27.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,490 shares of the real estate investment trust’s stock after buying an additional 5,320 shares during the quarter. Honeywell International Inc.’s holdings in Liberty Property Trust were worth $1,006,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Liberty Property Trust by 21.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,736,798 shares of the real estate investment trust’s stock valued at $152,125,000 after buying an additional 649,069 shares during the last quarter. Royal Bank of Canada grew its holdings in Liberty Property Trust by 4.5% during the 2nd quarter. Royal Bank of Canada now owns 3,333,422 shares of the real estate investment trust’s stock valued at $135,704,000 after buying an additional 142,553 shares during the last quarter. PGGM Investments grew its holdings in Liberty Property Trust by 4.9% during the 3rd quarter. PGGM Investments now owns 2,997,000 shares of the real estate investment trust’s stock valued at $123,057,000 after buying an additional 139,000 shares during the last quarter. Northern Trust Corp grew its holdings in Liberty Property Trust by 6.3% during the 2nd quarter. Northern Trust Corp now owns 2,279,886 shares of the real estate investment trust’s stock valued at $92,814,000 after buying an additional 135,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Liberty Property Trust by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,133,207 shares of the real estate investment trust’s stock worth $86,844,000 after purchasing an additional 119,503 shares during the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.
Shares of Liberty Property Trust (NYSE:LPT) opened at 42.88 on Wednesday. Liberty Property Trust has a 12-month low of $36.22 and a 12-month high of $43.70. The stock’s 50 day moving average price is $42.01 and its 200 day moving average price is $41.62. The firm has a market cap of $6.32 billion, a PE ratio of 18.34 and a beta of 0.88.
Liberty Property Trust (NYSE:LPT) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.23). Liberty Property Trust had a net margin of 47.78% and a return on equity of 11.41%. The firm had revenue of $193.65 million for the quarter, compared to analyst estimates of $174.65 million. During the same period last year, the firm earned $0.66 earnings per share. Liberty Property Trust’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Liberty Property Trust will post $1.24 EPS for the current fiscal year.
Liberty Property Trust announced that its Board of Directors has initiated a stock repurchase plan on Monday, October 2nd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, September 29th. Liberty Property Trust’s dividend payout ratio (DPR) is currently 67.51%.
Several research firms have recently issued reports on LPT. Stifel Nicolaus raised their price objective on Liberty Property Trust from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Sandler O’Neill upgraded Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a report on Wednesday, October 25th. Zacks Investment Research upgraded Liberty Property Trust from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, August 16th. Finally, KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Liberty Property Trust presently has an average rating of “Hold” and an average target price of $44.17.
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Liberty Property Trust Profile
Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust (REIT). The Trust’s assets are owned directly or indirectly, and substantially all of the Trust’s operations are conducted directly or indirectly, by its subsidiary, Liberty Property Limited Partnership (the Operating Partnership).
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