Deutsche Bank Re-Instates Coverage on Liberty Property Trust (LRY) with a Buy

May 29, 2009 9:30 AM EDT

Deutsche Bank re-instates coverage on Liberty Property Trust (NYSE: LRY) with a Buy.

Deutsche analyst says, "Upside despite softening fundamentals; funding needs addressed. LRY has largely addressed its funding needs through 2011 via its continuous equity offering program, secured financing and asset sales. We expect fundamentals to further deteriorate through 2010 and as such, have factored an additional 525bps decline in occupancy and lease spreads of -15% into our estimates. Despite this, we see upside to our estimated fwd NAV of $27, which when combined with the expected dividend yield of 8% should result in a total return of roughly 28%. Therefore, we are reinstating coverage with a Buy rating."

To see more analyst ratings on LRY Click Here.

Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust (REIT). All of the Trust’s assets are owned directly or indirectly, and substantially all of the Trust’s operations are conducted directly or indirectly, by its subsidiary, Liberty Property Limited Partnership.

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