Q3 2016 EPS Estimates for Lexington Realty Trust Increased by KeyCorp (LXP)
Lexington Realty Trust (NYSE:LXP) – Investment analysts at KeyCorp increased their Q3 2016 earnings per share (EPS) estimates for shares of Lexington Realty Trust in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. Mailman now expects that the firm will earn $0.28 per share for the quarter, up from their prior estimate of $0.27. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Lexington Realty Trust’s FY2016 earnings at $1.10 EPS and FY2017 earnings at $0.97 EPS.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis.
Other equities research analysts have also issued research reports about the company. Barclays PLC reissued a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Tuesday, August 16th. Jefferies Group restated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday, August 10th. Finally, Zacks Investment Research downgraded Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 26th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.25.
Lexington Realty Trust (NYSE:LXP) opened at 10.01 on Thursday. The stock has a 50 day moving average price of $10.35 and a 200-day moving average price of $9.85. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 19.40 and a beta of 1.17. Lexington Realty Trust has a 12-month low of $6.52 and a 12-month high of $11.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.175 per share. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.99%. Lexington Realty Trust’s dividend payout ratio is 134.62%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.70, for a total transaction of $267,500.00. Following the transaction, the chief executive officer now owns 2,038,528 shares in the company, valued at approximately $21,812,249.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Lexington Realty Trust by 7.8% in the second quarter. Vanguard Group Inc. now owns 35,806,396 shares of the real estate investment trust’s stock worth $362,002,000 after buying an additional 2,594,675 shares during the period. BlackRock Fund Advisors increased its position in Lexington Realty Trust by 7.4% in the second quarter. BlackRock Fund Advisors now owns 15,516,290 shares of the real estate investment trust’s stock worth $156,870,000 after buying an additional 1,075,144 shares during the period. LSV Asset Management increased its position in Lexington Realty Trust by 9.8% in the second quarter. LSV Asset Management now owns 11,891,830 shares of the real estate investment trust’s stock worth $120,226,000 after buying an additional 1,060,380 shares during the period. Global X Management Co. LLC increased its position in Lexington Realty Trust by 4,663.0% in the second quarter. Global X Management Co. LLC now owns 902,583 shares of the real estate investment trust’s stock worth $9,125,000 after buying an additional 883,633 shares during the period. Finally, Gradient Investments LLC purchased a new position in Lexington Realty Trust during the third quarter worth $4,529,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
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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