$98.61 Million in Sales Expected for Lexington Realty Trust (LXP) This Quarter
Equities research analysts expect that Lexington Realty Trust (NYSE:LXP) will announce $98.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Lexington Realty Trust’s earnings, with the highest sales estimate coming in at $104.94 million and the lowest estimate coming in at $90.50 million. Lexington Realty Trust reported sales of $95.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The business is expected to report its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Lexington Realty Trust will report full year sales of $98.61 million for the current financial year, with estimates ranging from $356.14 million to $394.41 million. For the next financial year, analysts forecast that the company will post sales of $399.00 million per share, with estimates ranging from $369.43 million to $435.94 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $97.70 million during the quarter, compared to the consensus estimate of $97.71 million. Lexington Realty Trust had a return on equity of 5.29% and a net margin of 17.96%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS.
LXP has been the subject of several recent research reports. Zacks Investment Research downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, November 10th. DA Davidson initiated coverage on Lexington Realty Trust in a report on Monday, September 25th. They issued a “neutral” rating and a $10.75 price target for the company. BidaskClub downgraded Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. Finally, KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Lexington Realty Trust presently has an average rating of “Hold” and a consensus target price of $10.79.
Institutional investors have recently made changes to their positions in the company. Adviser Investments LLC acquired a new stake in shares of Lexington Realty Trust during the third quarter valued at about $109,000. Tocqueville Asset Management L.P. grew its stake in shares of 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 valued at $135,000 after acquiring an additional 100 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Lexington Realty Trust by 86.3% during the second quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 6,384 shares in the last quarter. World Asset Management Inc grew its stake in shares of Lexington Realty Trust by 1.0% during the second quarter. World Asset Management Inc now owns 14,014 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 144 shares in the last quarter. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Lexington Realty Trust during the third quarter valued at about $140,000. Institutional investors own 72.68% of the company’s stock.
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Lexington Realty Trust (NYSE:LXP) traded up $0.09 during mid-day trading on Friday, hitting $10.58. The stock had a trading volume of 884,162 shares, compared to its average volume of 1,084,555. The firm has a market cap of $2,550.00, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 2.76 and a beta of 0.95. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.73. Lexington Realty Trust has a 1-year low of $9.00 and a 1-year high of $11.42.
The firm also recently announced 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. The ex-dividend date is Thursday, December 28th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a dividend yield of 6.71%. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 241.38%.
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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