Lexington Realty Trust (LXP) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Lexington Realty Trust (NYSE:LXP) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. The business had revenue of $97.70 million for the quarter, compared to analyst estimates of $97.71 million. Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. Lexington Realty Trust’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. Lexington Realty Trust updated its FY17 guidance to $0.95-0.97 EPS.
Shares of Lexington Realty Trust (LXP) traded up $0.05 on Tuesday, hitting $10.24. The stock had a trading volume of 560,801 shares, compared to its average volume of 830,378. Lexington Realty Trust has a twelve month low of $9.00 and a twelve month high of $11.42. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $2,490.00, a price-to-earnings ratio of 10.40, a PEG ratio of 2.66 and a beta of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.93%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio is 437.50%.
In related news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the sale, 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 is available through the SEC website. 3.10% of the stock is owned by insiders.
LXP has been the topic of several recent analyst reports. Zacks Investment Research lowered Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. KeyCorp reissued a “hold” rating on shares of Lexington Realty Trust in a research note on Sunday, September 24th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Lexington Realty Trust has a consensus rating of “Hold” and a consensus target price of $10.79.
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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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