Liberty Property Trust (LPT) Releases Earnings Results, Beats Expectations By $0.04 EPS

Liberty Property Trust (LPT) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.64. The company posted revenue of $186.70 million in the period, compared to analysts expectations of $189.45 million. The company’s revenue was down -8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Liberty Property Trust opened for trading at $40.39 and hit $40.79 on the upside on Wednesday, eventually ending the session at $40.79, with a gain of 1.34% or 0.54 points. The heightened volatility saw the trading volume jump to 8,90,711 shares. Company has a market cap of $5,981 M.

Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust. The Trust’s operations are conducted through its subsidiary Liberty Property Limited Partnership (Operating Partnership or the Company) a Pennsylvania limited partnership. The Company provides leasing property management development and other tenant-related services for the properties under development and the properties in operation. As of December 31 2014 the Company owned and operated 489 industrial and 180 office properties totaling 91.3 million square feet. As of December 31 2014 the Company owned 25 properties under development. Additionally as of December 31 2014 the Company had an ownership interest through unconsolidated joint ventures in 49 industrial and 34 office properties totaling 14.3 million square feet four properties under development and 460 acres of developable land substantially all of which is zoned for commercial use.

Liberty Property Trust

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