Liberty Property TrustNYSE
Tue, Oct. 25, 7:47 AM
- Q3 FFO of $99.6M or $0.66 per share vs. $102.1M and $0.67 one year ago. This year's result includes a $0.02 charge for early debt repayment.
- Same store operating income up 2.6% Y/Y; operating income for industrial distribution portfolio up 3.1%; industrial distribution rents up 12.4%.
- The midpoint of revised full-year FFO guidance of $2.36-$2.38 per share is up $0.02 from previous. Guidance includes $0.18 of charges from early debt repayment.
- Conference call at 1 ET
- Previously: Liberty Property Trust FFO in-line, beats on revenue (Oct. 25)
- LPT flat premarket
Tue, Oct. 25, 7:36 AM
Mon, Oct. 24, 5:30 PM
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Tue, Oct. 4, 12:26 PM
- Capital One Financial upgrades its rating on Liberty Property Trust LPT -0.9% to Overweight from Equal Weight.
- Credit Suisse Group AG downgrades Bank of Montreal BMO -2.2% to Underperform from Neutral.
- Janus Capital JNS -4.6% lower after getting downgraded to Hold from Jefferies group.
- JP Morgan Chase downgrades Reinsurance Group of America RGA -0.4% to Neutral from Overweight.
- Raymond James Financial downgrades Wells Fargo WFC +0.52% to Underperform from Market perform.
Tue, Oct. 4, 7:48 AM
- Liberty Property Trust LPT closed sale of 108 properties in five markets to Workspace Property Trust in concert with its strategic partner, Safanad Limited.
- The 108 properties consist of 7.6M sq. ft and 26.7 acres for approx. $969M and was 88.1% leased at closing.
- The company’s YTD total disposition are $1.2B.
Tue, Sep. 20, 3:06 PM
- The P-E giant has agreed to buy a portfolio of mostly West Coast logistics centers from LBA Realty for $1.5B, reports the WSJ.
- In the age of Amazon.com logistics is the hottest part of the commercial property sector, with prices for distribution centers and such still on the rise even as those for things like office buildings and malls show signs of cooling.
- "Distribution used to be just another part of the supply chain. Now logistics has moved up in its importance in corporate strategy," says Charles Sullivan of Global Logistics Properties.
- Interested parties (other than BX): Stag Industrial (NYSE:STAG), Prologis (NYSE:PLD), Liberty Property (NYSE:LPT), First Industrial (NYSE:FR), DCT Industrial (NYSE:DCT), Eastgroup (NYSE:EGP), Rexford Industrial (NYSE:REXR), Terreno Realty (NYSE:TRNO), Monmouth (NYSE:MNR), Gramercy Property (NYSE:GPT).
Thu, Sep. 15, 4:52 PM
Tue, Jul. 26, 8:01 AM
- Q2 FFO of $102.2M or $0.68 per share vs. $103M and $0.67 one year ago. This year's result included a $0.02 per share gain on debt forgiveness. Dividend is $0.47.
- Same-store operating income up 2.6% on a cash basis and 2.2% on a straight-line basis Y/Y.
- There were some minor sales during quarter, but the company earlier this week announced the sale of a 108-building portfolio of non-core suburban properties for $969M. Proceeds will be used to pay down debt, and the company expects to take a Q4 charge of up to $0.20 per share on the early extinguishment of debt.
- The dividend isn't expected to be affected in the short-term, but the sales may force a cut next year.
- Full-year FFO per share outlook of $2.30-$2.40 vs. previous of $2.35-$2.55.
- CC at 1 ET
- Previously: Liberty Property Trust beats by $0.02, misses on revenue (July 26)
- LPT flat premarket
Tue, Jul. 26, 7:45 AM
Mon, Jul. 25, 5:30 PM
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Mon, Jul. 25, 8:08 AM
- Consistent with the company's plan to sell about $1B of non-core suburban properties this year, LIberty Property Trust (NYSE:LPT) has agreed to sell to Workspace Property Trust 108 properties for $969M. The properties total about 7.6M square feet of leasable space, and are located in five markets. There's also 26.7 acres of land in two markets.
- Sale includes 30 properties in PA, 34 in FL, 19 in MN, 14 in AZ, and 11 in South Florida.
- Closing is expected in Q3.
- Comprehensive list of assets included in sale
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.
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
- Liberty Property Trust (NYSE:LPT): Q1 FFO of $0.62 beats by $0.01.
- Revenue of $190.1M (-8.1% Y/Y) misses by $5.55M.
Mon, Apr. 25, 5:30 PM
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