Sandler Capital Management lowered its position in shares of Liberty Property Trust (NYSE:LPT) by 25.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,900 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Sandler Capital Management’s holdings in Liberty Property Trust were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Destination Wealth Management bought a new stake in shares of Liberty Property Trust in the 2nd quarter worth approximately $31,000. JJJ Advisors Inc. bought a new stake in shares of Liberty Property Trust in the 2nd quarter worth approximately $31,000. Zions Bancorporation N.A. bought a new stake in shares of Liberty Property Trust in the 1st quarter worth approximately $36,000. Machina Capital S.A.S. bought a new stake in shares of Liberty Property Trust in the 2nd quarter worth approximately $50,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Liberty Property Trust by 432.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,252 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,017 shares during the period. 92.91% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Mary Beth Morrissey sold 4,321 shares of Liberty Property Trust stock in a transaction that occurred 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 approximately $2,789,722. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on the stock. Wells Fargo & Co lifted their price target on shares of Liberty Property Trust from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Liberty Property Trust from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.20.
Shares of NYSE:LPT traded down $0.13 during mid-day trading on Wednesday, reaching $51.21. The company had a trading volume of 33,927 shares, compared to its average volume of 1,284,666. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 3.27 and a beta of 0.76. The company’s 50-day moving average price is $51.61 and its 200-day moving average price is $49.86. Liberty Property Trust has a one year low of $39.82 and a one year high of $53.39.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.20%. Liberty Property Trust’s dividend payout ratio (DPR) is presently 74.55%.
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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