KeyCorp Brokers Raise Earnings Estimates for Lexington Realty Trust (LXP)
Lexington Realty Trust (NYSE:LXP) – KeyCorp increased their Q3 2016 earnings per share estimates for Lexington Realty Trust in a research note issued on Monday. KeyCorp analyst C. Mailman now expects that the brokerage will post earnings per share of $0.27 for the quarter, up from their prior forecast of $0.26. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Lexington Realty Trust’s FY2016 earnings at $1.09 EPS.
Several other brokerages also recently weighed in on LXP. Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Barclays PLC reiterated a “hold” rating and issued a $10.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, August 16th. Finally, Jefferies Group reiterated a “neutral” rating on shares of Lexington Realty Trust in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Lexington Realty Trust has a consensus rating of “Hold” and a consensus target price of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) traded up 1.64% during trading on Wednesday, hitting $9.89. The stock had a trading volume of 173,010 shares. The firm’s 50-day moving average is $10.40 and its 200-day moving average is $9.85. Lexington Realty Trust has a one year low of $6.52 and a one year high of $11.02. The firm has a market cap of $2.34 billion, a P/E ratio of 19.17 and a beta of 1.17.
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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 the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm earned $109.60 million during the quarter, compared to the consensus estimate of $103.72 million. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS.
A number of institutional investors have recently modified their holdings of LXP. AMP Capital Investors Ltd increased its position in shares of Lexington Realty Trust by 5.8% in the first quarter. AMP Capital Investors Ltd now owns 127,637 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 7,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Lexington Realty Trust by 13.3% in the first quarter. Renaissance Technologies LLC now owns 2,395,131 shares of the real estate investment trust’s stock worth $20,598,000 after buying an additional 281,549 shares during the last quarter. HBK Investments L P bought a new position in shares of Lexington Realty Trust during the first quarter worth approximately $231,000. Hancock Holding Co. bought a new position in shares of Lexington Realty Trust during the first quarter worth approximately $101,000. Finally, Lazard Asset Management LLC increased its position in shares of Lexington Realty Trust by 0.5% in the first quarter. Lazard Asset Management LLC now owns 725,234 shares of the real estate investment trust’s stock worth $6,237,000 after buying an additional 3,527 shares during the last quarter. Institutional investors own 71.41% of the company’s stock.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,038,528 shares in the company, valued at $21,812,249.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.175 dividend. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Wednesday, September 28th. Lexington Realty Trust’s payout ratio is presently 134.62%.
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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