Lexington Realty Trust (LXP) Downgraded by Zacks Investment Research
Lexington Realty Trust (NYSE:LXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “
A number of other research analysts have also commented on the company. BidaskClub upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 18th. Evercore ISI upgraded Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Thursday, May 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.60.
Lexington Realty Trust (NYSE:LXP) opened at 9.87 on Thursday. The firm’s 50-day moving average price is $10.10 and its 200-day moving average price is $10.25. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 29.20 and a beta of 0.96. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $95.41 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities research analysts predict that Lexington Realty Trust will post $0.35 earnings per share for the current year.
In other Lexington Realty Trust news, 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 value of $667,800.00. Following the transaction, the chairman now directly owns 792,435 shares in the company, valued at approximately $7,559,829.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,370,568.74. Following the completion of the transaction, the executive vice president now owns 360,709 shares in the company, valued at $3,653,982.17. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock valued at $319,155,000 after buying an additional 31,619,409 shares in the last quarter. Denver Investment Advisors LLC bought a new position in Lexington Realty Trust during the second quarter valued at about $17,700,000. Vanguard Group Inc. raised its position in Lexington Realty Trust by 3.1% in the first quarter. Vanguard Group Inc. now owns 39,695,075 shares of the real estate investment trust’s stock valued at $396,156,000 after buying an additional 1,204,191 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Lexington Realty Trust by 49.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,684,423 shares of the real estate investment trust’s stock valued at $26,603,000 after buying an additional 892,164 shares in the last quarter. Finally, State Street Corp raised its position in Lexington Realty Trust by 8.1% in the first quarter. State Street Corp now owns 6,302,258 shares of the real estate investment trust’s stock valued at $62,902,000 after buying an additional 472,738 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.
About Lexington Realty Trust
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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