Wells Fargo & Company MN Has $14.15 Million Stake in Liberty Property Trust (LPT)

Wells Fargo & Company MN grew its position in Liberty Property Trust (NYSE:LPT) by 48.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,708 shares of the real estate investment trust’s stock after buying an additional 112,983 shares during the quarter. Wells Fargo & Company MN owned 0.23% of Liberty Property Trust worth $14,153,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LPT. Advisor Group Inc. raised its position in shares of Liberty Property Trust by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 2,585 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 98 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Liberty Property Trust by 4.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,119 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 143 shares in the last quarter. Spectrum Management Group Inc. acquired a new position in shares of Liberty Property Trust in the 3rd quarter valued at approximately $168,000. Emerald Advisers Inc. PA acquired a new position in shares of Liberty Property Trust in the 3rd quarter valued at approximately $208,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Liberty Property Trust in the 2nd quarter valued at approximately $212,000. Institutional investors own 91.28% of the company’s stock.

Liberty Property Trust (NYSE:LPT) opened at $42.93 on Friday. The stock has a market cap of $6,310.96, a P/E ratio of 18.45, a P/E/G ratio of 2.79 and a beta of 0.88. Liberty Property Trust has a 12-month low of $37.21 and a 12-month high of $45.40. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.93.

Liberty Property Trust (NYSE:LPT) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.23). The company had revenue of $193.65 million for the quarter, compared to analyst estimates of $174.65 million. Liberty Property Trust had a return on equity of 11.41% and a net margin of 47.78%. Liberty Property Trust’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. analysts anticipate that Liberty Property Trust will post 2.55 earnings per share for the current year.

Liberty Property Trust declared that its Board of Directors has initiated a stock buyback plan on Monday, October 2nd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, December 29th. Liberty Property Trust’s dividend payout ratio is 67.51%.

In related news, Director David L. Lingerfelt sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $44.56, for a total transaction of $802,080.00. Following the completion of the transaction, the director now directly owns 56,814 shares in the company, valued at approximately $2,531,631.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

LPT has been the subject of several analyst reports. Zacks Investment Research cut shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. KeyCorp restated a “hold” rating on shares of Liberty Property Trust in a research report on Tuesday, October 24th. Sandler O’Neill upgraded shares of Liberty Property Trust from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective on shares of Liberty Property Trust in a research report on Thursday, September 21st. Finally, ValuEngine upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three 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 $43.75.

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About Liberty Property Trust

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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Institutional Ownership by Quarter for Liberty Property Trust (NYSE:LPT)

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