UBS Maintains a 'Neutral' on Liberty Property (LRY); Repositioning Continues Into 2012

UBS maintains a 'Neutral' on Liberty Property (NYSE: LRY) price target cit $2 to $30.

UBS analyst says, "Fundamentals continuing to lag into 2012: Beyond the near term dilution from asset recycling, fundamental trends within the same store portfolio continue to lag as expectations for 2012 include occupancy forecasts of flat to +2%, -7.% to -11% cash rent roll downs and -1% to -2% GAAP SS NOI."

"Adjusting FFO estimates on updated guidance: We are adjusting our 2012 FFO estimates from $2.58 to $2.52, reflecting the updated capital activity plans; $100-300M in acquisitions (6-8% yields), $250-$350M in dispositions (8-11% yields) and $30-$70M of development deliveries (9-10% yields)."

For an analyst ratings summary and ratings history on Liberty Property click here. For more ratings news on Liberty Property click here.

Shares of Liberty Property closed at $29.05 yesterday.

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