Stifel Nicolaus Downgrades Lexington Realty Trust to Hold (LXP)
Lexington Realty Trust (NYSE:LXP) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on LXP. Analysts at Jefferies Group cut their price target on shares of Lexington Realty Trust from $14.00 to $13.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Analysts at Ladenburg Thalmann cut their price target on shares of Lexington Realty Trust 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.79.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 11.46 on Wednesday. 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 $11.54 and a 200-day moving average of $12.14. The company has a market cap of $2.480 billion and a price-to-earnings ratio of 14.13.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Lexington Realty Trust will post $1.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.17 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.15.
Lexington Realty Trust (NYSE:LXP) is a self-managed and self-administered real estate investment trust (REIT).
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