As apart of its previously announced transaction comprising
the sale of 97 properties,
Liberty Property Trust
) completed the divestiture of remaining 48 properties spanning
about 2.6 million square feet of space and 19 acres of land. The
company reaped proceeds of $329.6 million from the
Libert Property had already sold 49 properties in December
2013 and garnered $367.7 million from those divestitures that
time. The move came as part of the company's strategy to
reposition its portfolio and support its growth
In particular, the 48 properties divested this January
comprised office properties spanning 2.1 million square feet and
flex assets aggregating 468,000 square feet. These include 24 New
Jersey, 23 Maryland and 1 Pennsylvania (Fort Washington) based
As a matter of fact, presently, the U.S. industrial market is
benefiting from healthy demand for industrial properties with
improving net absorption rate and declining vacancy rates. With a
thriving demand for premium-quality industrial space, Liberty
Property is repositioning its portfolio and shifting focus to
industrial real estate in growing markets.
Despite the near-term drag on profitability, we believe that
repositioning efforts on the part of Liberty Property are
encouraging. The dispositions provide the wherewithal to be
invested in acquiring premium assets and poise the company well
for riding on the growth trajectory going forward.
This Pennsylvania-based real estate investment trust (REIT) is
slated to report its fourth-quarter 2013 results on Feb 4. The
Zacks Consensus Estimate for FFO per share is currently pegged at
63 cents. The company's
, which represents the difference between the Most Accurate
estimate and the Zacks Consensus Estimate, stands at +1.59%. This
along with the Zacks Rank #3 (Hold) makes us confident about a
positive earnings beat.
Investors interested in the REIT-Equity Trust - Other industry
may consider stocks like
SL Green Realty Corp.
PS Business Parks Inc.
Chatham Lodging Trust
). All these stocks carry a Zacks Rank #2 (Buy).
CHATHAM LODGING (CLDT): Free Stock Analysis
LIBERTY PPTY TR (LRY): Free Stock Analysis
PS BUSINESS PKS (PSB): Free Stock Analysis
SL GREEN REALTY (SLG): Free Stock Analysis
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