Lexington Realty Trust Price Target Cut to $13.00 by Analysts at Jefferies Group (LXP)
Stock analysts at Jefferies Group dropped their price objective on shares of Lexington Realty Trust (NYSE:LXP) from $14.00 to $13.00 in a report issued on Wednesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would indicate a potential upside of 9.80% from the stock’s previous close.
Lexington Realty Trust (NYSE:LXP) traded up 1.81% on Wednesday, hitting $11.84. The stock had a trading volume of 3,072,420 shares. Lexington Realty Trust has a 1-year low of $8.84 and a 1-year high of $13.82. The stock has a 50-day moving average of $12.04 and a 200-day moving average of $12.18. The company has a market cap of $2.562 billion and a price-to-earnings ratio of 14.34.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Wednesday, August 7th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.01. The company had revenue of $99.40 million for the quarter, compared to the consensus estimate of $100.33 million. During the same quarter last year, the company posted $0.24 earnings per share. Lexington Realty Trust’s revenue was up 23.0% compared to the same quarter last year. On average, analysts predict that Lexington Realty Trust will post $0.99 earnings per share for the current fiscal year.
Separately, analysts at Ladenburg Thalmann cut their price target on shares of Lexington Realty Trust (NYSE:LXP) from $15.00 to $13.50 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock.
One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.50.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Thursday, September 26th.
Lexington Realty Trust (NYSE:LXP) is a self-managed and self-administered real estate investment trust (REIT).
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