Brokerages Expect Lexington Realty Trust (LXP) to Announce $0.25 Earnings Per Share
Brokerages expect that Lexington Realty Trust (NYSE:LXP) will announce earnings of $0.25 per share for the current quarter, Zacks reports. Three analysts have made estimates for Lexington Realty Trust’s earnings, with estimates ranging from $0.24 to $0.25. Lexington Realty Trust posted earnings of ($0.11) per share during the same quarter last year, which indicates a positive year over year growth rate of 327.3%. The firm is expected to issue its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Lexington Realty Trust will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.95 to $0.97. For the next year, analysts forecast that the firm will report earnings of $1.01 per share, with EPS estimates ranging from $0.96 to $1.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by $0.01. The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $95.41 million. Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS.
Several brokerages have recently issued reports on LXP. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, August 17th. Zacks Investment Research lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Evercore ISI upgraded shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Thursday, May 25th. Finally, Jefferies Group LLC restated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Lexington Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $10.60.
In related news, EVP Joseph Bonventre sold 135,298 shares of the business’s stock in a transaction dated 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 directly owns 360,709 shares in the company, valued at $3,653,982.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $9.81, for a total transaction of $237,107.70. Following the transaction, the chief executive officer now owns 2,223,251 shares in the company, valued at $21,810,092.31. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LXP. Vanguard Group Inc. raised its stake in Lexington Realty Trust by 0.6% during the second quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock worth $395,874,000 after purchasing an additional 251,811 shares during the period. BlackRock Inc. raised its stake in Lexington Realty Trust by 8,779.8% during the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after purchasing an additional 31,619,409 shares during the period. State Street Corp raised its stake in Lexington Realty Trust by 2.3% during the second quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock worth $63,887,000 after purchasing an additional 143,909 shares during the period. Macquarie Group Ltd. raised its stake in Lexington Realty Trust by 2.7% during the second quarter. Macquarie Group Ltd. now owns 5,300,736 shares of the real estate investment trust’s stock worth $52,530,000 after purchasing an additional 140,478 shares during the period. Finally, Northern Trust Corp raised its stake in Lexington Realty Trust by 6.4% during the second quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock worth $39,939,000 after purchasing an additional 243,882 shares during the period. Hedge funds and other institutional investors own 72.15% of the company’s stock.
Shares of Lexington Realty Trust (NYSE:LXP) traded up 0.30% during mid-day trading on Friday, reaching $9.89. 797,145 shares of the company’s stock traded hands. The company has a market cap of $2.38 billion, a P/E ratio of 73.26 and a beta of 0.96. The company’s 50 day moving average is $9.97 and its 200 day moving average is $10.10. Lexington Realty Trust has a 12-month low of $9.00 and a 12-month high of $11.42.
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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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