Lexington Realty Trust (LXP) Receives Hold Rating from KeyCorp
Other equities research analysts also recently issued research reports about the company. Jefferies Group downgraded Lexington Realty Trust from a buy rating to a hold rating and set a $11.00 price target on the stock. in a report on Tuesday, July 19th. Evercore ISI downgraded Lexington Realty Trust from a buy rating to a hold rating and increased their price objective for the company from $9.75 to $10.00 in a report on Monday, June 13th. Barclays PLC restated a hold rating and set a $10.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Lexington Realty Trust from a sell rating to a hold rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 9.73 on Tuesday. Lexington Realty Trust has a 12 month low of $6.52 and a 12 month high of $11.02. The company has a market capitalization of $2.31 billion, a P/E ratio of 18.86 and a beta of 1.17. The company has a 50-day moving average price of $10.40 and a 200-day moving average price of $9.85.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The business had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts forecast that Lexington Realty Trust will post $1.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.175 dividend. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 7.19%. Lexington Realty Trust’s payout ratio is 134.62%.
In related news, CEO T Wilson Eglin sold 25,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,038,528 shares of the company’s stock, valued at $21,812,249.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. raised its position in Lexington Realty Trust by 32.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,375 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 12,100 shares during the period. BlackRock Group LTD raised its position in shares of Lexington Realty Trust by 0.4% in the first quarter. BlackRock Group LTD now owns 1,861,712 shares of the real estate investment trust’s stock worth $16,011,000 after buying an additional 8,261 shares during the period. BlackRock Fund Advisors raised its position in shares of Lexington Realty Trust by 0.8% in the first quarter. BlackRock Fund Advisors now owns 14,441,146 shares of the real estate investment trust’s stock worth $124,194,000 after buying an additional 121,692 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of Lexington Realty Trust by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 21,207 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 75 shares during the period. Finally, Shufro Rose & Co. LLC raised its position in shares of Lexington Realty Trust by 1.4% in the first quarter. Shufro Rose & Co. LLC now owns 32,640 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 447 shares during the period. 71.41% of the stock is owned by hedge funds and other institutional investors.
About Lexington Realty Trust
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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