Sumitomo Mitsui Trust Holdings Inc. grew its position in Liberty Property Trust (NYSE:LPT) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 555,429 shares of the real estate investment trust’s stock after purchasing an additional 31,572 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.38% of Liberty Property Trust worth $24,622,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Assetmark Inc. raised its stake in Liberty Property Trust by 170.8% during the 1st quarter. Assetmark Inc. now owns 3,366 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 2,123 shares in the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in Liberty Property Trust during the 1st quarter worth $142,000. Optimum Investment Advisors acquired a new stake in Liberty Property Trust during the 1st quarter worth $167,000. Kempner Capital Management Inc. acquired a new stake in Liberty Property Trust during the 2nd quarter worth $204,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Liberty Property Trust during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.
NYSE LPT opened at $43.39 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Liberty Property Trust has a one year low of $37.77 and a one year high of $45.40.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, July 15th. Shareholders of record on Monday, July 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.69%. Liberty Property Trust’s dividend payout ratio is presently 61.78%.
Several brokerages recently commented on LPT. JPMorgan Chase & Co. upgraded shares of Liberty Property Trust from an “underweight” rating to a “neutral” rating in a research note on Friday, June 15th. Morgan Stanley cut their price target on shares of Liberty Property Trust from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 14th. SunTrust Banks reiterated a “buy” rating and set a $47.00 price target on shares of Liberty Property Trust in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Liberty Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, ValuEngine lowered shares of Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.83.
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 industrial and office properties. Liberty's 103 million square foot operating portfolio provides productive work environments for 1,200 tenants.
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