KeyCorp Comments on Lexington Realty Trust’s Q3 2016 Earnings (LXP)
Lexington Realty Trust (NYSE:LXP) – KeyCorp increased their Q3 2016 earnings per share (EPS) estimates for Lexington Realty Trust in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. Mailman now expects that the brokerage will earn $0.28 per share for the quarter, up from their previous forecast of $0.27. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Lexington Realty Trust’s FY2016 earnings at $1.10 EPS and FY2017 earnings at $0.97 EPS.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, beating the Zacks’ 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 net margin of 29.34% and a return on equity of 9.26%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share.
A number of other brokerages also recently weighed in on LXP. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC restated a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research report on Tuesday, August 16th. Finally, Jefferies Group restated a “neutral” rating on shares of Lexington Realty Trust in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.25.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/keycorp-comments-on-lexington-realty-trusts-q3-2016-earnings-lxp.html
Lexington Realty Trust (NYSE:LXP) traded up 0.758% during midday trading on Thursday, hitting $9.975. 181,669 shares of the stock were exchanged. Lexington Realty Trust has a 52 week low of $6.52 and a 52 week high of $11.02. The firm’s 50-day moving average is $10.37 and its 200 day moving average is $9.85. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 19.331 and a beta of 1.17.
A number of hedge funds and other institutional investors have recently bought and sold shares of LXP. World Asset Management Inc purchased a new position in Lexington Realty Trust during the second quarter worth about $108,000. Paragon Capital Management Ltd acquired a new position in Lexington Realty Trust during the second quarter worth approximately $116,000. Hancock Holding Co. acquired a new position in Lexington Realty Trust during the first quarter worth approximately $101,000. Genesee Valley Trust Co. acquired 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 last quarter. Institutional investors and hedge funds own 71.41% of the company’s stock.
In related news, Vice Chairman Richard J. Rouse sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 3.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.175 per share. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 7.07%. Lexington Realty Trust’s dividend payout ratio is 134.62%.
About Lexington Realty Trust
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.
Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.