Lexington Realty Trust (LXP) CEO Sells $237,107.70 in Stock
Lexington Realty Trust (NYSE:LXP) CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total value of $237,107.70. Following the completion of the sale, the chief executive officer now directly owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Lexington Realty Trust (NYSE:LXP) traded down 1.01% during midday trading on Tuesday, hitting $9.79. The stock had a trading volume of 907,050 shares. The firm has a 50-day moving average price of $10.05 and a 200-day moving average price of $10.20. Lexington Realty Trust has a 1-year low of $9.00 and a 1-year high of $11.42. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 72.52 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The business had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Lexington Realty Trust will post $0.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.175 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 7.15%. Lexington Realty Trust’s dividend payout ratio is currently 500.00%.
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Several research firms have recently weighed in on LXP. BidaskClub raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research raised Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Finally, Evercore ISI raised Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price objective for the company in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.60.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Lexington Realty Trust by 0.6% in the second quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock valued at $395,874,000 after buying an additional 251,811 shares during the period. BlackRock Inc. increased its stake in Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock valued at $319,155,000 after buying an additional 31,619,409 shares during the period. State Street Corp increased its stake in Lexington Realty Trust by 2.3% in the second quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock valued at $63,887,000 after buying an additional 143,909 shares during the period. Macquarie Group Ltd. increased its stake in Lexington Realty Trust by 2.7% in the second quarter. Macquarie Group Ltd. now owns 5,300,736 shares of the real estate investment trust’s stock valued at $52,530,000 after buying an additional 140,478 shares during the period. Finally, Northern Trust Corp increased its stake in Lexington Realty Trust by 6.4% in the second quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock valued at $39,939,000 after buying an additional 243,882 shares during the period. Institutional investors own 73.13% of the company’s stock.
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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