We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Liberty (LPT) Secures First Tenant for Landover Facility
Read MoreHide Full Article
Liberty Property Trust has secured the first tenant for its 216,000 square foot distribution facility at the Washington Gateway Logistics Center in Landover, MD. The new tenant, which has leased 129,600 square feet of space, is slated to occupy the warehouse space this month. Liberty Property has already completed the shell construction of the property.
Referred as 1200 Claybrick Road, this facility is strategically situated in a central location, which is less than two miles from Washington, DC, and enjoys immediate access to Rt. 50, I-295, I-495/I-95. Further, it is close to the Cheverly and Deanwood Metro Stations.
Additionally, per the company’s management, the property is in a market which enjoys solid demand for class A space for servicing a growing metropolitan population base. On the other hand, supply of such high quality properties in Washington D.C and Northern Virginia is rapidly falling. This paves the way for Liberty Property to grab attention for this building. It has a 200' depth, 36' clear height, 50' x 54' column spacing, 60' speed bay, up to 58 dock doors and an ESFR fire suppression system.
Notably, fundamentals of the overall U.S. industrial market remain solid, backed by rising demand for industrial properties amid manageable supply, which has led to strong rent growth, increased occupancy and development opportunities. Thus, given its premium quality industrial portfolio located in upscale locations, pro-business environment and consistent e-commerce demand, Liberty Property is poised for growth.
The company’s 98 million square foot portfolio includes over 558 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants. Specifically, the company’s industrial portfolio, spanning 91.7 million square feet, was leased 96.6% at the end of first-quarter 2017. Also, industrial distribution rents escalated 17.8% on renewal and replacement leases during the reported quarter.
Currently, Liberty Property carries a Zacks Rank #3 (Hold). Moreover, over the past three months, shares of Liberty Property climbed 8.8% and outperformed the Zacks categorized REIT and Equity Trust – Other industry’s gain of 5.6%.
Prologis’ estimates for second-quarter 2017 FFO per share moved north 4.0% to 78 cents, over the past 30 days.
PS Business Parks has a long-term growth rate of 5.0%.
Whitestone REIT’s FFO per share estimates for 2017 inched up 1.9% to $1.05, over the past 30 days.
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.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Image: Bigstock
Liberty (LPT) Secures First Tenant for Landover Facility
Liberty Property Trust has secured the first tenant for its 216,000 square foot distribution facility at the Washington Gateway Logistics Center in Landover, MD. The new tenant, which has leased 129,600 square feet of space, is slated to occupy the warehouse space this month. Liberty Property has already completed the shell construction of the property.
Referred as 1200 Claybrick Road, this facility is strategically situated in a central location, which is less than two miles from Washington, DC, and enjoys immediate access to Rt. 50, I-295, I-495/I-95. Further, it is close to the Cheverly and Deanwood Metro Stations.
Additionally, per the company’s management, the property is in a market which enjoys solid demand for class A space for servicing a growing metropolitan population base. On the other hand, supply of such high quality properties in Washington D.C and Northern Virginia is rapidly falling. This paves the way for Liberty Property to grab attention for this building. It has a 200' depth, 36' clear height, 50' x 54' column spacing, 60' speed bay, up to 58 dock doors and an ESFR fire suppression system.
Notably, fundamentals of the overall U.S. industrial market remain solid, backed by rising demand for industrial properties amid manageable supply, which has led to strong rent growth, increased occupancy and development opportunities. Thus, given its premium quality industrial portfolio located in upscale locations, pro-business environment and consistent e-commerce demand, Liberty Property is poised for growth.
The company’s 98 million square foot portfolio includes over 558 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants. Specifically, the company’s industrial portfolio, spanning 91.7 million square feet, was leased 96.6% at the end of first-quarter 2017. Also, industrial distribution rents escalated 17.8% on renewal and replacement leases during the reported quarter.
Currently, Liberty Property carries a Zacks Rank #3 (Hold). Moreover, over the past three months, shares of Liberty Property climbed 8.8% and outperformed the Zacks categorized REIT and Equity Trust – Other industry’s gain of 5.6%.
Stocks to Consider
Better-ranked stocks in the REIT space include Prologis, Inc. (PLD - Free Report) , PS Business Parks, Inc. and Whitestone REIT (WSR - Free Report) . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Prologis’ estimates for second-quarter 2017 FFO per share moved north 4.0% to 78 cents, over the past 30 days.
PS Business Parks has a long-term growth rate of 5.0%.
Whitestone REIT’s FFO per share estimates for 2017 inched up 1.9% to $1.05, over the past 30 days.
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.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>