Liberty Authorizes $250M in Share Buybacks

Liberty Property Trust has kicked off a $250k share buyback program, though under the terms of the authorization, it might be suspended or discontinued as the company sees fit. The Malvern-based REIT isn't alone in a buyback strategy; Brandywine Realty Trust is undertaking a $100M share buyback program. A number of REITs believe there's a disconnect between the value of their real estate assets and the level at which their shares are trading, the Philadelphia Business Journal reports, and they're looking to get their own shares at a discount. [PBJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Philadelphia Newsletters
Related Stories

Tenant Departure Leaves Beleaguered Broad Street Office Over Half-Vacant

Penta And Staycity Team Up For £230M Farringdon Aparthotel

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

Starwood Launches Residential Land JV Targeting $1B In Annual Originations

New Opportunity Zones May Help Finish California Projects, Not Start Them

New Student Housing Towers Lease Up Quickly In University City, But Developers Can't Build More

ISIF Commits €100M To IPUT's €500M Office Development Pipeline

Brookfield, CPP Complete $5.2B REIT Buyout, Pick Up U.S. Logistics Assets

Voorhees Greenlights 178-Unit Office-To-Resi Conversion Amid Multifamily Boom

TPG, ACORE Raise Billions For Opportunistic CRE Funds

Newmark Cuts Earnings Outlook Despite Record Third Quarter

Battered Mortgage REIT Suspends Dividend To Preserve Cash