Lexington Realty Trust (NYSE:LXP) Shares Bought by Forsta AP Fonden
Forsta AP Fonden boosted its stake in Lexington Realty Trust (NYSE:LXP) by 210.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,500 shares of the real estate investment trust’s stock after buying an additional 71,500 shares during the period. Forsta AP Fonden’s holdings in Lexington Realty Trust were worth $1,046,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. James Investment Research Inc. purchased a new stake in Lexington Realty Trust during the first quarter valued at approximately $131,000. State of Alaska Department of Revenue boosted its stake in Lexington Realty Trust by 25.7% in the first quarter. State of Alaska Department of Revenue now owns 147,290 shares of the real estate investment trust’s stock valued at $1,469,000 after buying an additional 30,120 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Lexington Realty Trust during the first quarter valued at approximately $356,000. Everence Capital Management Inc. purchased a new stake in Lexington Realty Trust during the first quarter valued at approximately $147,000. Finally, Boston Advisors LLC boosted its stake in Lexington Realty Trust by 1.6% in the first quarter. Boston Advisors LLC now owns 623,490 shares of the real estate investment trust’s stock valued at $6,222,000 after buying an additional 9,550 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 10.17 on Monday. The stock has a market capitalization of $2.44 billion, a PE ratio of 30.09 and a beta of 0.96. The stock’s 50 day moving average is $10.10 and its 200 day moving average is $10.25. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $96.10 million during the quarter, compared to analyst estimates of $94.72 million. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 EPS. Analysts anticipate that Lexington Realty Trust will post $0.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 6.88%. Lexington Realty Trust’s dividend payout ratio (DPR) is 218.76%.
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Several research firms have commented on LXP. Zacks Investment Research cut shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Finally, Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 target price for the company in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.60.
In other news, EVP Joseph Bonventre sold 135,298 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $10.13, for a total transaction of $1,370,568.74. Following the transaction, the executive vice president now owns 360,709 shares in the company, valued at approximately $3,653,982.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman E Robert Roskind sold 70,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $9.54, for a total transaction of $667,800.00. Following the transaction, the chairman now owns 792,435 shares in the company, valued at approximately $7,559,829.90. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Lexington Realty Trust Company Profile
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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