J.P. Morgan Lowers Estimates on Liberty Property Trust (LRY)

J.P. Morgan is lowering its estimates on Liberty Property Trust LRY due to its conservative assumptions In a report sent to clients, J.P. Morgan writes, "we are lowering our 2010 and 2011 FFO/share estimates by $0.02 and $0.05 to $2.65 and $2.65, respectively. Our new 2010 estimate of $2.65 is $0.01 below Bloomberg consensus and the midpoint of management's guidance range of $2.65-$2.67. Our new 2011 estimate of $2.65 is $0.04 below Bloomberg consensus and $0.05 below the midpoint of 2011 guidance range of $2.60-$2.80. Lastly, we are introducing our 2012 FFO/share estimate of $2.65, which is 5% below consensus of $2.79 (range of $2.71-$2.91)." LRY closed Monday at $31.19.