Lexington Realty Trust’s (LXP) Hold Rating Reiterated at KeyCorp
Lexington Realty Trust (NYSE:LXP)‘s stock had its “hold” rating reiterated by analysts at KeyCorp in a note issued to investors on Tuesday.
LXP has been the topic of a number of other research reports. Evercore ISI lowered Lexington Realty Trust from a “buy” rating to a “hold” rating and increased their price objective for the company from $9.75 to $10.00 in a research note on Monday, June 13th. Jefferies Group lowered Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research note on Tuesday, July 19th. Zacks Investment Research lowered Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 26th. Finally, Barclays PLC reissued a “hold” rating and issued a $10.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) traded down 1.5852% during mid-day trading on Tuesday, reaching $9.7037. 478,500 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $10.43 and a 200 day moving average price of $9.85. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 18.8056 and a beta of 1.17. Lexington Realty Trust has a 52 week low of $6.52 and a 52 week high of $11.02.
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Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. Equities research analysts predict that Lexington Realty Trust will post $1.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.10%. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is 134.62%.
In other news, Vice Chairman Richard J. Rouse sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $10.70, for a total value of $267,500.00. Following the transaction, the insider now directly owns 628,648 shares in the company, valued at approximately $6,726,533.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.30% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. World Asset Management Inc purchased a new position in Lexington Realty Trust during the second quarter worth approximately $108,000. Paragon Capital Management Ltd purchased a new position in Lexington Realty Trust during the second quarter worth approximately $116,000. Hancock Holding Co. purchased a new position in Lexington Realty Trust during the first quarter worth approximately $101,000. Genesee Valley Trust Co. purchased a new position in Lexington Realty Trust during the second quarter worth approximately $125,000. Finally, Public Employees Retirement System of Ohio increased its position in Lexington Realty Trust by 8.1% in the second quarter. Public Employees Retirement System of Ohio now owns 12,906 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 967 shares during the period. Institutional investors own 71.41% of the company’s stock.
Lexington Realty Trust Company Profile
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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