Lexington Realty Trust (LXP) Holdings Boosted by Prudential Financial Inc.
Prudential Financial Inc. boosted its holdings in Lexington Realty Trust (NYSE:LXP) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,552,690 shares of the real estate investment trust’s stock after buying an additional 245,469 shares during the quarter. Prudential Financial Inc. owned 1.06% of Lexington Realty Trust worth $25,297,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of LXP. BlackRock Inc. raised its position in Lexington Realty Trust by 8,779.8% in the 1st quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after buying an additional 31,619,409 shares during the last quarter. Denver Investment Advisors LLC purchased a new position in Lexington Realty Trust in the 2nd quarter worth about $17,700,000. Vanguard Group Inc. raised its position in Lexington Realty Trust by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 39,695,075 shares of the real estate investment trust’s stock worth $396,156,000 after buying an additional 1,204,191 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Lexington Realty Trust by 49.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,684,423 shares of the real estate investment trust’s stock worth $26,603,000 after buying an additional 892,164 shares during the last quarter. Finally, State Street Corp raised its position in Lexington Realty Trust by 8.1% in the 1st quarter. State Street Corp now owns 6,302,258 shares of the real estate investment trust’s stock worth $62,902,000 after buying an additional 472,738 shares during the last quarter. 72.15% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on LXP shares. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.60.
Shares of Lexington Realty Trust (NYSE LXP) opened at 9.89 on Monday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 73.26 and a beta of 0.96. The company has a 50-day moving average of $9.97 and a 200 day moving average of $10.10. 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 announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.01. The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $95.41 million. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. Analysts predict that Lexington Realty Trust will post $0.33 earnings per share for the current year.
In related news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $9.81, for a total transaction of $237,107.70. Following the completion of the transaction, the chief executive officer now directly owns 2,223,251 shares in the company, valued at $21,810,092.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Bonventre sold 135,298 shares of Lexington Realty Trust stock in a transaction that occurred 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 transaction, the executive vice president now owns 360,709 shares of the company’s stock, 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.
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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