Lexington Realty Trust (LXP) Expected to Post Quarterly Sales of $92.97 Million
Wall Street analysts expect Lexington Realty Trust (NYSE:LXP) to post sales of $92.97 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Lexington Realty Trust’s earnings, with estimates ranging from $87.56 million to $95.75 million. Lexington Realty Trust reported sales of $106.33 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.6%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Lexington Realty Trust will report full year sales of $92.97 million for the current financial year, with estimates ranging from $350.32 million to $383.83 million. For the next fiscal year, analysts expect that the business will post sales of $379.36 million per share, with estimates ranging from $352.63 million to $395.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Lexington Realty Trust.
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 Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The company had revenue of $95.70 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.29 earnings per share.
LXP has been the topic of a number of research analyst reports. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a research note on Sunday. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Stifel Nicolaus reiterated 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, Jefferies Group LLC reiterated a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Lexington Realty Trust has an average rating of “Hold” and a consensus price target of $10.60.
Lexington Realty Trust (LXP) traded up 0.20% on Thursday, reaching $10.09. 916,556 shares of the company’s stock traded hands. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 77.62 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 company’s 50 day moving average is $9.90 and its 200-day moving average is $10.00.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 500.00%.
In other news, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total value of $237,107.70. Following the sale, the chief executive officer now owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LXP. Elkfork Partners LLC raised its position in shares of Lexington Realty Trust by 19.0% in the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 1,876 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Lexington Realty Trust in the second quarter valued at approximately $118,000. Piedmont Investment Advisors LLC bought a new stake in shares of Lexington Realty Trust in the first quarter valued at approximately $129,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lexington Realty Trust by 5.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 737 shares during the period. Finally, Tocqueville Asset Management L.P. raised its position in shares of Lexington Realty Trust by 0.7% in the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 100 shares during the period. 72.14% of the stock is currently owned by institutional investors.
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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