Lexington Realty Trust (LXP) Updates FY17 Earnings Guidance
Lexington Realty Trust (NYSE:LXP) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.94-0.98 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.96.
Lexington Realty Trust (NYSE LXP) traded down 2.68% during mid-day trading on Tuesday, hitting $9.82. The company had a trading volume of 264,669 shares. The firm has a market capitalization of $2.36 billion, a P/E ratio of 29.05 and a beta of 0.96. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42. The company has a 50-day moving average price of $10.10 and a 200 day moving average price of $10.25.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $95.70 million during the quarter, compared to analyst estimates of $95.41 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. The company’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Equities analysts forecast that Lexington Realty Trust will post $0.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Wednesday, June 28th. Lexington Realty Trust’s dividend payout ratio is currently 218.76%.
A number of analysts have recently weighed in on LXP shares. Zacks Investment Research raised shares of Lexington Realty Trust from a sell rating to a hold rating in a research note on Saturday, May 13th. Stifel Nicolaus reissued a hold rating and set a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Jefferies Group LLC reissued a hold rating and set a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Evercore ISI raised shares of Lexington Realty Trust from an in-line rating to an outperform rating and set a $11.00 target price for the company in a research note on Thursday, May 25th. Finally, BidaskClub lowered shares of Lexington Realty Trust from a hold rating to a sell rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Lexington Realty Trust currently has an average rating of Hold and an average price target of $10.60.
In other Lexington Realty Trust news, EVP Joseph Bonventre sold 135,298 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $10.13, for a total value of $1,370,568.74. Following the transaction, the executive vice president now owns 360,709 shares in the company, valued at approximately $3,653,982.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman E Robert Roskind sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $9.54, for a total transaction of $667,800.00. Following the completion of the transaction, the chairman now owns 792,435 shares in the company, valued at approximately $7,559,829.90. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
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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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