Wed, Jun. 15, 8:59 AM
Mon, May 9, 5:30 PM
- George Alburger has been CFO at Liberty Property Trust (NYSE:LPT) since 1995. He's to be replaced by Chris Papa, who has been CFO at Post Properties (NYSE:PPS) since 2003.
- LPT is in the midst of repositioning its portfolio - selling non-core suburban assets - and is in talks about a sale of a large portfolio.
- Source: Press Release
Tue, Apr. 26, 7:57 AM
- Q1 FFO of $93M or $0.62 per share vs. $106.5M and $0.70 one year ago.
- Same-store operating income up 3.4% Y/Y on a cash basis and 2.1% on a straight-line basis. In-service portfolio of 103M square feet was 93.8% occupied at quarter's end, up 10 bps from Q4.
- No more news yet on discussions about a sale of a large portfolio of company suburban assets. LPT continues to guide for $900M-$1.2B in sales of non-core suburban properties this year.
- 1.4M shares bought back during quarter at average price of $29.28 each. Last night's close was $34.84.
- Previously: Liberty Property Trust beats by $0.01, misses on revenue (April 26)
- LPT flat premarket
Tue, Apr. 26, 7:39 AM
Mon, Apr. 25, 5:30 PM
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Thu, Mar. 17, 9:10 AM
- The company has promised to sell $900M-$1.2B of non-core suburban properties this year, and along those lines has entered into discussions with a potential buyer for a large portfolio of suburban office assets.
- No agreement has yet been inked, cautions LPT, and there will be no further comment unless a deal is reached.
- Source: Press Release
Tue, Mar. 15, 9:27 AM
Wed, Feb. 17, 10:29 AM
- Thus far in 2016, the company has sold eight properties across three states for a total of $131.1M. Among them was a 100% leased industrial building in Deerfield Beach, FL, a vacant office building in Minnesota, and five fully leased office properties and four acres of land in Tampa.
- The company sold 45 properties for $300.3M in Q4.
- Source: Press Release
Tue, Feb. 9, 7:34 AM
Mon, Feb. 8, 5:30 PM
Fri, Jan. 8, 9:46 AM
- These income favorites are known for having had a tough time of it in 2015, in part thanks to worries about rising interest rates. MKM's Jonathan Krinsky, however, notes REITs have been relatively outperforming the S&P 500 for months and have just broken out to nine-month highs versus the broader market.
- Krinsky's a technician, so he's staying with the trend and recommending going long REITs (NYSEARCA:IYR) versus the S&P 500.
- Turning to individual REIT sectors and names, he's overweight apartments (AIV, AVB, ESS, EQR, MAA), UDR), storage (CUBE, EXR, PSA, SSS), and shopping malls (KIM, MAC, FRT, REG, IRM).
- He's equal weight data centers (buys: CONE, DCT, QTS, sells: EGP), diversified (buys: AMT, CCI, DLR, DRE, PSB, sells: EQIX, LPT, STAG, VNO, WY, WPC).
- He's underweight office property (buys: EQC, sells: HPP, FSP, GOV, KRC, OFC, PKY, SLG), hotels (sells: AHT, FCH, HPT, HST), mREITs (sells: ARR, STWD, RSO, buy: ABR), healthcare (sells: HCP, MPW, OHI, VTR, buys: DOC, HR, HTA)
Dec. 16, 2015, 10:27 AM
- BMO Capital upgrades Apartment Investment and Management (AIV +1.7%) to Outperform from Market Perform. Yesterday it was Citi with an upgrade.
- Another apartment player gets an upgrade as KeyBanc boosts Camden Property Trust (CPT +1.3%) to Overweight.
- Argus upgrades Kimco (KIM +1.3%) to Buy. The stock is higher by 4.2% year-to-date.
- Stifel downgrades Liberty Property Trust (LPT -0.3%) to Sell. The stock is lower by 15.5% YTD.
Dec. 15, 2015, 9:10 AM
- Last week's sale of the company's Horsham, PA properties brings total 2015 sales to $550M. With the conclusion of LPT's multi-year plan to exit non-core suburban properties coming in 2016, company FFO per share guidance is a wide range of $2.35-$2.55 thanks to the unknown factor of the timing of sales.
- Full-year 2015 guidance is reaffirmed at $2.66-$2.69.
- Proceeds from sales will be used to fund the company's development pipeline and potential acquisitions, and Liberty expects to start $500M-$700M in new projects in 2016.
- A conference call is set for 10 ET.
Dec. 14, 2015, 8:48 AM
- Liberty Property Trust (NYSE:LPT) declares $0.475/share quarterly dividend, in line with previous.
- Forward yield 5.93%
- Payable Jan. 15; for shareholders of record Jan. 4; ex-div Dec. 30.
Dec. 4, 2015, 11:02 AM
- Liberty Property Trust (NYSE:LPT) closes on the sale of its entire portfolio - 2.4M square feet and 20 acres of land - in the Horsham submarket. The buyer for $245.3M was Workspace Property Trust. The portfolio was 84.3% leased at closing.
- This sale brings YTD dispositions to $536M.
Nov. 6, 2015, 10:14 AM
- While banks, brokerages, and insurers cheer the now near-certainty of higher rates, a big fall bounce for the REITs (IYR -1.8%) takes at least a pause as these income favorites mull some yield competition.
- Previously: December rate hike back on after big jobs number (Nov. 6)
- The 10-year Treasury yield is up nine basis points to 2.32% and the two-year yield has pushed to more than a five-year high of 0.90%.
- Realty Income (O -3.5%), Omega Healthcare (OHI -3.3%), Ventas (VTR -4.2%), HCP (HCP -2.8%), Medical Properties Trust (MPW -2.8%), Vornado (VNO -2.9%), Equity Residential (EQR -1.7%), AvalonBay (AVB -1.9%), Simon Property (SPG -2%), General Growth (GGP -3.2%), Inland Real Estate (ORC -0.8%), Kimco (KIM -2.6%), Public Storage (PSA -1.3%) Sovran (SSS -2.2%), Government Properties (GOV -2.3%), Boston Properties (BXP -2.6%), Ashford (AHP -5.9%), Hospitality Properties (HPT -2.1%), STAG Industrial (STAG -2.1%), Liberty Property (LPT -2%), American Campus (ACC -2.3%)
- ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX, LRET, XLRE
Liberty Property Trust, a real estate investment trust, invests in industrial and office space located in the US and UK.
Industry: REIT - Office
Country: United States
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