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Stock Market & Financial Investment News

News Breaks
June 12, 2014
18:24 EDTLPTLiberty Property acquires five industrial buildings in Durham
Liberty Property Trust announced the acquisition of five Class A industrial buildings in Durham, North Carolina, for $44M. Together the acquisition totals 705,365 square feet, bringing the company's overall portfolio in the Triangle market to 1.4M square feet. Known as Imperial Center, the newly acquired buildings are located at 4226 Surles Court, 4234 Surles Court, 4227 Surles Court, 4300 Emperor Boulevard, and 1000 Parliament Court with immediate access to I-40 and I-540. The buildings are located within five miles of the Raleigh-Durham International Airport and are 100% occupied.
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July 25, 2014
06:18 EDTLPTLiberty Property downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded Liberty Property following the disappointing Q2 report and lowered guidance.
July 23, 2014
06:15 EDTLPTLiberty Property downgraded to Market Perform from Outperform at Wells Fargo
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05:38 EDTLPTLiberty Property downgraded to Neutral from Buy at UBS
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July 22, 2014
08:09 EDTLPTLiberty Property cuts FY14 FFO to $2.42-$2.48 from $2.45-$2.55, consensus $2.50
The revised guidance reflects reduced acquisition volumes for the year, minor delays in expected development starts, and slower than budgeted occupancy increases in the core portfolio. CEO Bill Hankowsky said, "We continued to see good activity in the industrial markets, with solid demand and rent increases. The thin and pricey industrial transaction market is offering few acquisition opportunities that meet our investment criteria, therefore it has taken longer than expected to deploy the capital on our balance sheet in a manner that creates value. We believe that the delays in leasing and development starts that have contributed to our revised projections are somewhat situational and that they are not indicative of negative market trends."
08:09 EDTLPTLiberty Property reports Q2 FFO 59c, consensus 61c
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