Lexington Realty Trust’s (LXP) “Hold” Rating Reaffirmed at Ladenburg Thalmann Financial Services
Lexington Realty Trust (NYSE:LXP)‘s stock had its “hold” rating restated by investment analysts at Ladenburg Thalmann Financial Services in a research note issued to investors on Monday.
LXP has been the topic of a number of other reports. Barclays PLC lowered Lexington Realty Trust from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Monday, January 23rd. Zacks Investment Research raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.33.
Lexington Realty Trust (NYSE:LXP) traded up 0.19% on Monday, reaching $10.29. 1,170,939 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.47 billion, a P/E ratio of 27.51 and a beta of 0.94. Lexington Realty Trust has a 1-year low of $8.19 and a 1-year high of $11.42. The firm’s 50 day moving average is $10.74 and its 200 day moving average is $10.46.
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Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, March 1st. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. The company had revenue of $95.30 million for the quarter, compared to analyst estimates of $95.11 million. Lexington Realty Trust had a return on equity of 7.95% and a net margin of 24.89%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Analysts expect that Lexington Realty Trust will post $0.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date is Wednesday, March 29th. Lexington Realty Trust’s dividend payout ratio (DPR) is 159.09%.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. PVG Asset Management Corp acquired a new position in shares of Lexington Realty Trust during the third quarter worth approximately $2,586,000. Susquehanna International Group LLP raised its position in shares of Lexington Realty Trust by 1,895.7% in the third quarter. Susquehanna International Group LLP now owns 231,650 shares of the real estate investment trust’s stock worth $2,386,000 after buying an additional 244,550 shares during the period. Independent Advisor Alliance acquired a new position in shares of Lexington Realty Trust during the fourth quarter worth approximately $1,026,000. Bessemer Group Inc. raised its position in shares of Lexington Realty Trust by 0.7% in the fourth quarter. Bessemer Group Inc. now owns 210,825 shares of the real estate investment trust’s stock worth $2,277,000 after buying an additional 1,425 shares during the period. Finally, Comerica Bank raised its position in shares of Lexington Realty Trust by 6.0% in the fourth quarter. Comerica Bank now owns 227,047 shares of the real estate investment trust’s stock worth $2,454,000 after buying an additional 12,774 shares during the period. 71.34% of the stock is currently owned by institutional investors.
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.
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