J.P. Morgan Trims Liberty Property Trust PT

J.P. Morgan lowered its Liberty Property Trust LRY price target from $34 to $33 in a research report published today. J.P. Morgan has a Neutral rating on Liberty Property Trust. In the report, J.P. Morgan states, "We like the company's move to reposition into fundamentally stronger industrial assets compared to some of its suburban office exposures, and its balance sheet is among the strongest of its peers. That said, we believe a material bounce in rents in many of LRY's markets is likely to lag, especially with the macro economic backdrop being fairly weak." Shares of Liberty Property Trust were trading at $29.22 at the time of posting, up 0.69% from Monday's market close.