Back to top

Analyst Blog

Liberty Property Trust – a real estate investment trust (REIT) – divested a Philadelphia-based office property to an affiliate of Cole Real Estate Investments for roughly $74.7 million. The transaction is in line with the company’s ongoing portfolio repositioning program.

The sold facility, which spans 441,000 square foot, is located at 8800 Tinicum Boulevard. The property is occupied by PNC Bank of The PNC Financial Services Group, Inc. (PNC - Analyst Report). Notably, Liberty Property constructed the office facility for PNC Bank in two stages, completed in 1997 and 2000, respectively.

The abovementioned transaction was represented by CBRE Group Inc. (CBG - Analyst Report).  We expect the divesture to facilitate Liberty Property to focus on higher growth markets characterized by better job and rent growth prospects. Also, this is expected to boost the company’s portfolio and strengthen its top line.

Liberty Property specifically focuses on metro office, multi-tenant industrial, and flex properties and markets that have strong demographic and economic fundamentals, which ensure a steady revenue stream. In Feb, in order to boost its portfolio restructuring initiative, Liberty Property unveiled its plan to construct an office building for The Vanguard Group in Malvern, Pa.

Last month, Liberty Property reported fourth-quarter 2012 results with FFO (funds from operations) of 63 cents per share, in line with the Zacks Consensus Estimate as well as the prior-year quarter. The result was attributable to the strong acquisitions and development activities, slightly impacted by uncertain economic conditions.

Liberty Property currently holds a Zacks Rank #3 (Hold). Brandywine Realty Trust (BDN - Snapshot Report), another REIT, is performing better than Liberty and holds a Zacks Rank #2 (Buy).

Note: Funds from operations, a widely used metric to gauge the performance of REITs, are obtained after adding depreciation and amortization and other non-cash expenses to net income.

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
TRIQUINT SE… TQNT 20.71 +6.75%
RF MICRO DE… RFMD 12.46 +5.91%
VASCO DATA… VDSI 14.79 +4.82%
STRATTEC SE… STRT 81.23 +4.27%
PATTERSON-U… PTEN 34.44 +2.68%