Wells Fargo & Co Boosts Liberty Property Trust (NYSE:LPT) Price Target to $57.00
Liberty Property Trust (NYSE:LPT) had its price target upped by research analysts at Wells Fargo & Co from $55.00 to $57.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s price target would indicate a potential upside of 9.32% from the company’s previous close.
Separately, Goldman Sachs Group began coverage on Liberty Property Trust in a research note on Wednesday, May 15th. They set a “neutral” rating and a $49.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Liberty Property Trust currently has an average rating of “Hold” and an average target price of $50.75.
Shares of NYSE LPT traded up $0.49 during mid-day trading on Wednesday, reaching $52.14. 2,260 shares of the company’s stock were exchanged, compared to its average volume of 853,790. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 3.36 and a beta of 0.75. Liberty Property Trust has a 52 week low of $39.82 and a 52 week high of $53.39. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a 50-day moving average price of $51.65 and a two-hundred day moving average price of $49.32.
Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in Liberty Property Trust by 0.8% in the 2nd quarter. Royal Bank of Canada now owns 3,722,238 shares of the real estate investment trust’s stock worth $186,261,000 after purchasing an additional 28,397 shares during the last quarter. UBS Group AG grew its position in Liberty Property Trust by 60.7% in the 2nd quarter. UBS Group AG now owns 206,045 shares of the real estate investment trust’s stock worth $10,310,000 after purchasing an additional 77,836 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Liberty Property Trust by 17.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,038,559 shares of the real estate investment trust’s stock worth $51,969,000 after purchasing an additional 157,058 shares during the last quarter. Summit Global Investments grew its position in Liberty Property Trust by 3.2% in the 2nd quarter. Summit Global Investments now owns 25,412 shares of the real estate investment trust’s stock worth $1,272,000 after purchasing an additional 792 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Liberty Property Trust by 23.9% in the second quarter. California Public Employees Retirement System now owns 1,117,676 shares of the real estate investment trust’s stock valued at $55,929,000 after acquiring an additional 215,896 shares in the last quarter. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
About Liberty Property Trust
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.
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