Lexington Realty Trust (LXP) Expected to Announce Earnings of $0.24 Per Share
Equities research analysts expect that Lexington Realty Trust (NYSE:LXP) will post earnings per share of $0.24 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lexington Realty Trust’s earnings, with estimates ranging from $0.24 to $0.25. Lexington Realty Trust posted earnings of $0.29 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.2%. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Lexington Realty Trust will report full-year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.95 to $0.98. For the next financial year, analysts anticipate that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.96 to $1.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last posted 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 Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $94.72 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. Lexington Realty Trust’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS.
Several equities analysts have weighed in on the company. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Zacks Investment Research lowered Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. BidaskClub raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, May 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.50.
In other 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 sale, the chairman now owns 792,435 shares of the company’s stock, valued at $7,559,829.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph Bonventre sold 135,298 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $10.13, for a total value of $1,370,568.74. Following the sale, the executive vice president now directly owns 360,709 shares in the company, valued at approximately $3,653,982.17. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LXP. James Investment Research Inc. acquired a new stake in Lexington Realty Trust during the first quarter worth approximately $131,000. State of Alaska Department of Revenue raised its stake in Lexington Realty Trust by 25.7% in the first quarter. State of Alaska Department of Revenue now owns 147,290 shares of the real estate investment trust’s stock worth $1,469,000 after buying an additional 30,120 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Lexington Realty Trust during the first quarter worth approximately $356,000. Everence Capital Management Inc. acquired a new stake in Lexington Realty Trust during the first quarter worth approximately $147,000. Finally, Boston Advisors LLC raised its stake in Lexington Realty Trust by 1.6% in the first quarter. Boston Advisors LLC now owns 623,490 shares of the real estate investment trust’s stock worth $6,222,000 after buying an additional 9,550 shares in the last quarter. 72.59% of the stock is currently owned by institutional investors.
Lexington Realty Trust (NYSE:LXP) traded up 0.247% during mid-day trading on Wednesday, reaching $10.135. The company’s stock had a trading volume of 307,751 shares. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 29.985 and a beta of 0.96. The stock’s 50 day moving average is $10.05 and its 200 day moving average is $10.28. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend was Wednesday, June 28th. Lexington Realty Trust’s dividend payout ratio is currently 218.76%.
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.
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