FY2017 EPS Estimates for Lexington Realty Trust Boosted by Analyst (LXP)
Lexington Realty Trust (NYSE:LXP) – Research analysts at KeyCorp increased their FY2017 EPS estimates for Lexington Realty Trust in a research note issued to investors on Tuesday. KeyCorp analyst C. Mailman now forecasts that the brokerage will earn $1.00 per share for the year, up from their previous estimate of $0.97. KeyCorp currently has a “Hold” rating on the stock.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $109.60 million for the quarter, compared to analysts’ expectations of $103.72 million. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS.
Several other research firms also recently weighed in on LXP. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Barclays PLC reaffirmed 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, Jefferies Group reaffirmed a “neutral” rating on shares of Lexington Realty Trust in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Lexington Realty Trust has an average rating of “Hold” and an average price target of $10.25.
Lexington Realty Trust (NYSE:LXP) opened at 9.95 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of 19.28 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 stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $9.86.
The firm also recently disclosed 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 an increase 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 dividend on an annualized basis and a yield of 7.04%. Lexington Realty Trust’s payout ratio is 134.62%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of Lexington Realty Trust stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $10.70, for a total value of $267,500.00. Following the transaction, the chief executive officer now directly owns 2,038,528 shares of the company’s stock, valued at $21,812,249.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Lexington Realty Trust by 4.1% in the first quarter. Legal & General Group Plc now owns 552,567 shares of the real estate investment trust’s stock valued at $4,750,000 after buying an additional 21,801 shares in the last quarter. AMP Capital Investors Ltd raised its position in Lexington Realty Trust by 5.8% in the first quarter. AMP Capital Investors Ltd now owns 127,637 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 7,000 shares in the last quarter. Renaissance Technologies LLC raised its position in Lexington Realty Trust by 13.3% in the first quarter. Renaissance Technologies LLC now owns 2,395,131 shares of the real estate investment trust’s stock valued at $20,598,000 after buying an additional 281,549 shares in the last quarter. HBK Investments L P purchased a new position in Lexington Realty Trust during the first quarter valued at about $231,000. Finally, Hancock Holding Co. purchased a new position in Lexington Realty Trust during the first quarter valued at about $101,000. 71.41% of the stock is currently owned by institutional investors and hedge funds.
Lexington Realty Trust Company Profile
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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