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Liberty Focuses on Property Divestiture: Time to Hold?
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We updated our research report on Liberty Property Trust on Aug 22, 2016. This Malvern, PA-based real estate investment trust (“REIT”) is engaged in providing leasing, property management, development, construction management, design management and related services for industrial and office properties.
Liberty Property has been concentrating on divesting its non-core assets and using the proceeds for gaining the preferred properties across the U.S. The company recently declared its 2016 disposition plan of selling $1.2 billion suburban office and flex non-core assets. The company intends to use these proceeds to finance its growing development pipeline as well as potential acquisitions.
Further, fundamentals of the industrial market have remained strong, backed by increasing demand for industrial properties amid limited supply. In turn, this has resulted in strong rent growth, increased occupancy and development opportunities. Therefore, given its premium quality industrial portfolio located in upscale locations, Liberty Property is poised to gain.
On Jul 26, Liberty Property reported second-quarter 2016 funds from operations (“FFO”) per share of $0.68, which beat the Zacks Consensus Estimate of $0.64. The prior-year quarter figure was $0.67. Results reflect growth in same-store operating income for the industrial distribution portfolio.
However, the company’s huge development pipeline, though encouraging, exposes the company to different types of risks. Further, the earnings-dilutive effects of divestiture and any rise in the rate of interest are concerns before Liberty Property.
Over the past seven days, the current quarter estimate has remained unchanged at 65 cents per share.
The stock presently carries a Zacks Rank #3 (Hold).
Investors interested in the REIT sector can consider stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CoreSite Realty Corporation (COR - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Note: All EPS numbers presented in this write-up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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Liberty Focuses on Property Divestiture: Time to Hold?
We updated our research report on Liberty Property Trust on Aug 22, 2016. This Malvern, PA-based real estate investment trust (“REIT”) is engaged in providing leasing, property management, development, construction management, design management and related services for industrial and office properties.
Liberty Property has been concentrating on divesting its non-core assets and using the proceeds for gaining the preferred properties across the U.S. The company recently declared its 2016 disposition plan of selling $1.2 billion suburban office and flex non-core assets. The company intends to use these proceeds to finance its growing development pipeline as well as potential acquisitions.
Further, fundamentals of the industrial market have remained strong, backed by increasing demand for industrial properties amid limited supply. In turn, this has resulted in strong rent growth, increased occupancy and development opportunities. Therefore, given its premium quality industrial portfolio located in upscale locations, Liberty Property is poised to gain.
On Jul 26, Liberty Property reported second-quarter 2016 funds from operations (“FFO”) per share of $0.68, which beat the Zacks Consensus Estimate of $0.64. The prior-year quarter figure was $0.67. Results reflect growth in same-store operating income for the industrial distribution portfolio.
However, the company’s huge development pipeline, though encouraging, exposes the company to different types of risks. Further, the earnings-dilutive effects of divestiture and any rise in the rate of interest are concerns before Liberty Property.
Over the past seven days, the current quarter estimate has remained unchanged at 65 cents per share.
LIBERTY PPTY TR Price
LIBERTY PPTY TR Price | LIBERTY PPTY TR Quote
The stock presently carries a Zacks Rank #3 (Hold).
Investors interested in the REIT sector can consider stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CoreSite Realty Corporation (COR - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Note: All EPS numbers presented in this write-up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>