Liberty Acquires D.C. Property

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Liberty Property Trust (LRY) recently acquired a property in Washington, D.C. for $133.5 million. The property 2100 M Street NW is a nearly 291,000 square feet, eight-story office building, which is currently 77% occupied with space available for lease of 66,366 square feet.

It has a premium location with a decent amenity base within a three-block radius. Also, it enjoys easy accessibility for being in close proximity with the Red and Orange/Blue Metro rail lines.

The property has retail tenants like The UPS Store of United Parcel Service Inc. (UPS) and M Street Store. Moreover, its office tenants are The Urban Institute, George Washington University, Stewart & Stewart, GSA-SSA.

The deal brings in leasable space to Liberty Property, whose current downtown properties are mostly occupied (99% leased). Moreover, it offers opportunities to redevelop and expand to a maximum of 415,000 square feet.

Last month, Liberty Property reported first-quarter 2013 FFO (funds from operations) of 65 cents per share, beating the Zacks Consensus Estimate by 2 cents. The result was attributable to a consistent performance of the overall portfolio as well as strong leasing and development activities.

Liberty Property currently holds a Zacks Rank #3 (Hold). Two other REIT stocks that are performing well and deserve a look include CubeSmart (CUBE) and The Macerich Company (MAC), both carrying a Zacks Rank #2.

Note: Funds from operations, a widely accepted and reported measure of REITs performance, are derived by adding depreciation, amortization and other non-cash expenses to net income.

Read the Full Research Report on MAC

Read the Full Research Report on LRY

Read the Full Research Report on CUBE

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Liberty Acquires D.C. Property

Nathaniel Branden: What Happens When the Libertarian Movement Begins to Succeed? – Video

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Nathaniel Branden: What Happens When the Libertarian Movement Begins to Succeed?
Once a member of Ayn Rand #39;s inner circle, Nathaniel Branden has played a prominent role in spreading the ideas of Objectivism, including founding the Nathani...

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Nathaniel Branden: What Happens When the Libertarian Movement Begins to Succeed? - Video

Libertarian Party: Cut government waste to fix dangerous bridges

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In the wake of the dramatic collapse of the Interstate 5 bridge in Mount Vernon, Wash., on May 23, federal and state politicians will make their usual claims that ever-higher government spending is needed funded by more taxpayer dollars and more deficit spending to fix the countrys roads in need of repair.

But its a fraud. More money is not the answer. Much lower total government spending is.

The first step is to open the governments books to learn how those federal and state government politicians are spending the trillions of dollars they already collect and spend every year.

Dont be surprised to learn that, in most states, less than 2 percent of state government spending goes toward building, fixing, or maintaining roadways, said Libertarian National Committee Executive Director Carla Howell.

In Massachusetts, state politicians spent more than $53.3 billion in fiscal year 2012. Only $1.7 billion went to the state Department of Transportation. And only $63.9 million of the Massachusetts DOTs budget was spent on road construction and maintenance and materials, supplies, services a minuscule 0.12 percent (one eighth of 1 percent) of total Massachusetts state government spending.

A 2008 study by pollster Tony Fabrizio showed that the average Massachusetts voter believes that 41 cents on every dollar the state government spends is wasted. If voters are correct, theres more than $21 billion in government waste ripe for the cutting, a tiny fraction of which is needed for roads.

Road maintenance, construction, and repair should be funded as locally as possible, Howell said. We certainly dont need the federal government butting in and adding to the waste. That will only drive up costs more and tempt politicians to sign on to Big Government boondoggles like the Big Dig.

Politicians sold voters on the Big Dig, a road project in downtown Boston, in the late 1980s, with a price tag of $2.3 billion. The taxpayers bill now stands at more than $24 billion.

Most major road construction today is paid for with bonds, or funded with federal TARP money, rather than scheduled to fall within state or local highway operating budgets. Continual debt funding of roads drives up costs, grows government debt, and creates excuses for higher government spending.

Every dangerous road, tunnel, and bridge in America should be fixed or replaced immediately but without blackmailing taxpayers for more money, Howell said. Instead, politicians and their appointees should be held criminally negligent for allowing any public thoroughfare to remain unsafe. At the same time, we must stop debt-funding roads and force politicians to fund road maintenance and repairs from planned budgets. As always, we must dramatically downsize federal, state, and local government budgets to remove waste.

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Libertarian Party: Cut government waste to fix dangerous bridges