Lexington Realty Trust (LXP) Receives Average Recommendation of “Hold” from Brokerages
Shares of Lexington Realty Trust (NYSE:LXP) have received an average rating of “Hold” from the eight research firms that are presently covering the company. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.00.
Several analysts recently weighed in on LXP shares. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Tuesday, October 11th. Barclays PLC reiterated a “hold” rating and issued a $10.00 price target on shares of Lexington Realty Trust in a report on Tuesday, August 16th. Finally, Jefferies Group reiterated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday, August 10th.
Lexington Realty Trust (NYSE:LXP) traded up 0.70% during mid-day trading on Monday, hitting $10.02. 376,545 shares of the stock traded hands. 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 $10.33 and its 200 day moving average is $9.86. The firm has a market cap of $2.37 billion, a P/E ratio of 19.42 and a beta of 1.17.
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Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. The firm had revenue of $109.60 million for the quarter, compared to analysts’ expectations of $103.72 million. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that Lexington Realty Trust will post $1.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.175 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 annualized dividend and a yield of 7.04%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.17. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 134.62%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.70, for a total transaction of $267,500.00. Following the completion of the transaction, the chief executive officer now owns 2,038,528 shares of the company’s stock, valued at $21,812,249.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Lexington Realty Trust by 7.8% in the second quarter. Vanguard Group Inc. now owns 35,806,396 shares of the real estate investment trust’s stock valued at $362,002,000 after buying an additional 2,594,675 shares in the last quarter. BlackRock Fund Advisors raised its position in Lexington Realty Trust by 7.4% in the second quarter. BlackRock Fund Advisors now owns 15,516,290 shares of the real estate investment trust’s stock valued at $156,870,000 after buying an additional 1,075,144 shares in the last quarter. LSV Asset Management raised its position in Lexington Realty Trust by 9.8% in the second quarter. LSV Asset Management now owns 11,891,830 shares of the real estate investment trust’s stock valued at $120,226,000 after buying an additional 1,060,380 shares in the last quarter. Macquarie Group Ltd. raised its position in Lexington Realty Trust by 1.5% in the second quarter. Macquarie Group Ltd. now owns 5,090,168 shares of the real estate investment trust’s stock valued at $51,462,000 after buying an additional 75,645 shares in the last quarter. Finally, State Street Corp raised its position in Lexington Realty Trust by 9.4% in the second quarter. State Street Corp now owns 5,008,455 shares of the real estate investment trust’s stock valued at $50,631,000 after buying an additional 429,035 shares in the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.
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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