Lexington Realty Trust (LXP) Holdings Cut by LSV Asset Management
LSV Asset Management lowered its stake in shares of Lexington Realty Trust (NYSE:LXP) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,519,130 shares of the real estate investment trust’s stock after selling 147,700 shares during the period. LSV Asset Management owned approximately 4.79% of Lexington Realty Trust worth $114,154,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Elkfork Partners LLC boosted its holdings in Lexington Realty Trust by 19.0% during the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,876 shares during the last quarter. GW&K Investment Management LLC bought a new position in Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC bought a new position in Lexington Realty Trust during the first quarter worth about $129,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lexington Realty Trust by 5.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 737 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in Lexington Realty Trust by 0.7% during the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.15% of the company’s stock.
Shares of Lexington Realty Trust (LXP) opened at 9.91 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 73.41 and a beta of 0.96. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42. The stock’s 50 day moving average price is $9.94 and its 200-day moving average price is $10.07.
Lexington Realty Trust (NYSE:LXP) last announced its 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. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The business had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts forecast that Lexington Realty Trust will post $0.33 EPS for the current year.
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In related news, EVP Joseph Bonventre sold 135,298 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $10.13, for a total transaction of $1,370,568.74. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $9.81, for a total value of $237,107.70. Following the completion of the transaction, the chief executive officer now owns 2,223,251 shares in the company, valued at approximately $21,810,092.31. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on LXP. BidaskClub cut Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, August 17th. Zacks Investment Research lowered Lexington Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Evercore ISI raised 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 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Lexington Realty Trust has an average rating of “Hold” and a consensus target price of $10.60.
Lexington Realty Trust 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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