Analysts forecast that Lexington Realty Trust (NYSE:LXP) will post sales of $92.97 million for the current quarter, Zacks reports. Three analysts have issued estimates for Lexington Realty Trust’s earnings. The highest sales estimate is $95.75 million and the lowest is $87.56 million. Lexington Realty Trust posted sales of $106.33 million during the same quarter last year, which suggests a negative year-over-year growth rate of 12.6%. The business is expected to report its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Lexington Realty Trust will report full-year sales of $92.97 million for the current financial year, with estimates ranging from $350.32 million to $383.83 million. For the next financial year, analysts anticipate that the business will post sales of $379.36 million per share, with estimates ranging from $352.63 million to $395.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Lexington Realty Trust.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $95.70 million during 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. The firm’s quarterly revenue was down 12.7% on a year-over-year basis.

Several brokerages have recently commented on LXP. BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.60.

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Shares of Lexington Realty Trust (LXP) opened at 10.09 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of 74.74 and a beta of 0.96. The firm has a 50-day moving average price of $9.90 and a 200-day moving average price of $10.00. Lexington Realty Trust has a 1-year low of $9.00 and a 1-year high of $11.42.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 6.94%. Lexington Realty Trust’s payout ratio is 500.00%.

In other news, CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the transaction, the chief executive officer now owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXP. Elkfork Partners LLC raised its stake in Lexington Realty Trust by 19.0% during the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 1,876 shares during the period. GW&K Investment Management LLC acquired a new stake in Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC acquired a new stake in Lexington Realty Trust during the first quarter worth about $129,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lexington Realty Trust by 5.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 737 shares during the period. Finally, Tocqueville Asset Management L.P. raised its stake in Lexington Realty Trust by 0.7% during the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 72.14% 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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Earnings History and Estimates for Lexington Realty Trust (NYSE:LXP)

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