Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $15.00 target price on the real estate investment trust’s stock.
According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “
Separately, Wells Fargo & Company raised their price objective on Lexington Realty Trust from $14.00 to $16.00 and gave the stock an overweight rating in a research note on Wednesday, September 8th.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Thursday, August 5th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. The company had revenue of $81.54 million for the quarter, compared to analyst estimates of $78.78 million. Lexington Realty Trust had a return on equity of 13.71% and a net margin of 76.04%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. Sell-side analysts expect that Lexington Realty Trust will post 0.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, September 29th. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.11. Lexington Realty Trust’s dividend payout ratio (DPR) is 56.58%.
Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Lexington Realty Trust in the 1st quarter valued at $26,000. Eaton Vance Management acquired a new stake in shares of Lexington Realty Trust in the 1st quarter valued at $27,000. Berman Capital Advisors LLC boosted its holdings in shares of Lexington Realty Trust by 99.8% in the 1st quarter. Berman Capital Advisors LLC now owns 3,598 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,797 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Lexington Realty Trust in the 2nd quarter valued at $51,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Lexington Realty Trust by 64.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 5,058 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 1,981 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
About Lexington Realty Trust
Lexington Realty Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. It also provides investment advisory and asset management services. The company was founded by E. Robert Roskind in October 1993 and is headquartered in New York, NY.
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