Lexington Realty Trust (LXP) Plans $0.18 Quarterly Dividend
Lexington Realty Trust (NYSE:LXP) declared a quarterly dividend on Friday, September 15th, RTT News reports. Investors of record on Friday, September 29th will be paid a dividend of 0.175 per share by the real estate investment trust on Monday, October 16th. This represents a $0.70 annualized dividend and a yield of 7.01%.
Lexington Realty Trust has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend every year for the last 6 years. Lexington Realty Trust has a dividend payout ratio of 72.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lexington Realty Trust to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 69.3%.
Lexington Realty Trust (LXP) opened at 9.99 on Friday. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The firm has a 50-day moving average of $9.91 and a 200-day moving average of $10.03. The company has a market capitalization of $2.40 billion, a P/E ratio of 74.00 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last announced 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). Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $95.41 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Lexington Realty Trust’s revenue was down 12.7% on a year-over-year basis. Analysts anticipate that Lexington Realty Trust will post $0.32 EPS for the current fiscal year.
A number of equities research analysts have weighed in on LXP shares. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 18th. Evercore ISI upgraded shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price objective for the company in a report on Thursday, May 25th. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC restated a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a report on Friday, June 23rd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a report on Thursday, July 6th. Two equities 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 company. The stock currently has an average rating of “Hold” and an average price target of $10.60.
In other news, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the completion of the sale, the chief executive officer now owns 2,223,251 shares in the company, valued at approximately $21,810,092.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.
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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