CIBC Asset Management Inc Reduces Stake in Liberty Property Trust (NYSE:LPT)

CIBC Asset Management Inc decreased its stake in shares of Liberty Property Trust (NYSE:LPT) by 11.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,111 shares of the real estate investment trust’s stock after selling 1,124 shares during the period. CIBC Asset Management Inc’s holdings in Liberty Property Trust were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LPT. 6 Meridian increased its stake in Liberty Property Trust by 1.9% in the 2nd quarter. 6 Meridian now owns 10,987 shares of the real estate investment trust’s stock worth $550,000 after acquiring an additional 209 shares during the last quarter. Independent Advisor Alliance increased its stake in Liberty Property Trust by 4.6% in the 2nd quarter. Independent Advisor Alliance now owns 5,012 shares of the real estate investment trust’s stock worth $251,000 after acquiring an additional 222 shares during the last quarter. Oakbrook Investments LLC increased its stake in Liberty Property Trust by 3.6% in the 3rd quarter. Oakbrook Investments LLC now owns 8,550 shares of the real estate investment trust’s stock worth $439,000 after acquiring an additional 300 shares during the last quarter. Natixis Advisors L.P. increased its stake in Liberty Property Trust by 1.3% in the 2nd quarter. Natixis Advisors L.P. now owns 23,478 shares of the real estate investment trust’s stock worth $1,175,000 after acquiring an additional 302 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in Liberty Property Trust by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 27,350 shares of the real estate investment trust’s stock worth $1,369,000 after acquiring an additional 400 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Liberty Property Trust stock opened at $58.70 on Friday. The company has a current ratio of 7.33, a quick ratio of 2.27 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $8.62 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.81 and a beta of 0.76. The business’s 50-day moving average price is $52.81 and its 200-day moving average price is $50.96. Liberty Property Trust has a 12 month low of $40.15 and a 12 month high of $59.97.

Liberty Property Trust (NYSE:LPT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $163.20 million for the quarter, compared to analyst estimates of $163.43 million. Liberty Property Trust had a return on equity of 5.79% and a net margin of 64.23%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. As a group, analysts predict that Liberty Property Trust will post 2.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, September 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.79%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 74.55%.

In other news, CAO Mary Beth Morrissey sold 2,741 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $51.26, for a total transaction of $140,503.66. Following the transaction, the chief accounting officer now directly owns 50,559 shares in the company, valued at approximately $2,591,654.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. Wells Fargo & Co lowered Liberty Property Trust from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $57.00 to $59.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their target price on Liberty Property Trust from $49.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Morgan Stanley upped their target price on Liberty Property Trust from $49.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, ValuEngine lowered Liberty Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, Liberty Property Trust presently has a consensus rating of “Hold” and an average price target of $52.00.

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

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