Evercore ISI Upgrades Lexington Realty Trust (LXP) to “Outperform”
Lexington Realty Trust (NYSE:LXP) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Thursday. The firm currently has a $11.00 price objective on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential upside of 13.29% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, May 18th. Zacks Investment Research cut Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Lexington Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $10.67.
Shares of Lexington Realty Trust (NYSE:LXP) traded up 0.73% during trading on Thursday, hitting $9.71. 921,191 shares of the stock traded hands. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The firm’s 50-day moving average price is $9.98 and its 200-day moving average price is $10.40. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 28.73 and a beta of 0.94.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a return on equity of 7.95% and a net margin of 24.89%. The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $94.72 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that Lexington Realty Trust will post $0.31 earnings per share for the current year.
In other Lexington Realty Trust news, Chairman E Robert Roskind sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $9.54, for a total transaction of $667,800.00. Following the transaction, the chairman now owns 792,435 shares in the company, valued at $7,559,829.90. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in LXP. PVG Asset Management Corp acquired a new stake in Lexington Realty Trust during the third quarter worth approximately $2,586,000. Jane Street Group LLC acquired a new stake in Lexington Realty Trust during the third quarter worth approximately $674,000. Panagora Asset Management Inc. raised its stake in Lexington Realty Trust by 75.8% in the third quarter. Panagora Asset Management Inc. now owns 718,045 shares of the real estate investment trust’s stock worth $7,396,000 after buying an additional 309,627 shares in the last quarter. Two Sigma Advisers LP raised its stake in Lexington Realty Trust by 12.9% in the third quarter. Two Sigma Advisers LP now owns 636,026 shares of the real estate investment trust’s stock worth $6,551,000 after buying an additional 72,701 shares in the last quarter. Finally, Susquehanna International Group LLP raised its stake in 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 in the last quarter. 71.34% of the stock is currently owned by institutional investors.
Lexington Realty Trust Company Profile
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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.