Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Liberty Property Trust (NYSE:LPT) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 679,643 shares of the real estate investment trust’s stock after buying an additional 89,280 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.46% of Liberty Property Trust worth $34,009,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Destination Wealth Management purchased a new position in shares of Liberty Property Trust in the second quarter valued at $31,000. JJJ Advisors Inc. purchased a new position in shares of Liberty Property Trust in the second quarter valued at $31,000. Zions Bancorporation N.A. purchased a new position in shares of Liberty Property Trust in the first quarter valued at $36,000. Quadrant Capital Group LLC boosted its stake in shares of Liberty Property Trust by 74.1% in the first quarter. Quadrant Capital Group LLC now owns 940 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 400 shares during the period. Finally, Machina Capital S.A.S. purchased a new position in shares of Liberty Property Trust in the second quarter valued at $50,000. Institutional investors own 91.87% of the company’s stock.
Separately, Goldman Sachs Group assumed coverage on shares of Liberty Property Trust in a research note on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 target price for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $48.67.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.64 annualized dividend and a dividend yield of 3.18%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 74.55%.
In other news, SVP Mary Beth Morrissey sold 4,321 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $52.34, for a total value of $226,161.14. Following the completion of the transaction, the senior vice president now directly owns 53,300 shares in the company, valued at $2,789,722. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Liberty Property Trust Profile
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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