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Gain Boosts Liberty Property
Liberty Property Trust (LRY Quote) said profits more than doubled from a year ago in its December quarter, boosted by gains on asset sale.
The real estate investment trust earned $107.3 million, or $1.20 a share, in the quarter, compared with $45.9 million, or 53 cents a share, a year ago. Adjusted for the gain, earnings were $28.6 million, or 32 cents a share in the most recent quarter.
Fourth quarter revenue grew by about 7% from a year ago to $171.9 million, which was lower than the analysts' estimates of $174.1 million. ...
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