Revenue Update on Liberty Property Trust(NYSE:LPT)

Liberty Property Trust(NYSE:LPT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $186.65M. Analysts estimated a revenue of $191.42M. Earnings per share were $0.66. Analysts had estimated an EPS of $0.64.

In a different note, On Jul 7, 2016, Citigroup said it Maintains its rating on Liberty Property Trust. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Neutral’ by the firm.

Liberty Property Trust (LPT) made into the market gainers list on Fridays trading session with the shares advancing 2.96% or 1.19 points. Due to strong positive momentum, the stock ended at $41.38, which is also near the day’s high of $41.5. The stock began the session at $40.2 and the volume stood at 13,34,934 shares. The 52-week high of the shares is $41.5 and the 52 week low is $26.94. The company has a current market capitalization of $6,067 M and it has 14,66,25,090 shares in outstanding.

Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust. The Trust’s operations are conducted through its subsidiary Liberty Property Limited Partnership (Operating Partnership or the Company) a Pennsylvania limited partnership. The Company provides leasing property management development and other tenant-related services for the properties under development and the properties in operation. As of December 31 2014 the Company owned and operated 489 industrial and 180 office properties totaling 91.3 million square feet. As of December 31 2014 the Company owned 25 properties under development. Additionally as of December 31 2014 the Company had an ownership interest through unconsolidated joint ventures in 49 industrial and 34 office properties totaling 14.3 million square feet four properties under development and 460 acres of developable land substantially all of which is zoned for commercial use.

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