Lexington Realty Trust (LXP) Expected to Announce Quarterly Sales of $95.48 Million
Wall Street brokerages forecast that Lexington Realty Trust (NYSE:LXP) will announce $95.48 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Lexington Realty Trust’s earnings, with the lowest sales estimate coming in at $89.42 million and the highest estimate coming in at $99.24 million. Lexington Realty Trust posted sales of $106.33 million during the same quarter last year, which indicates a negative year-over-year growth rate of 10.2%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, November 7th.
On average, analysts expect that Lexington Realty Trust will report full year sales of $95.48 million for the current year, with estimates ranging from $356.14 million to $391.99 million. For the next year, analysts forecast that the business will post sales of $391.53 million per share, with estimates ranging from $369.43 million to $411.84 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow 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 (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. The company’s quarterly revenue was down 12.7% compared to the same quarter last year.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, October 24th. DA Davidson assumed coverage on shares of Lexington Realty Trust in a research note on Monday, September 25th. They set a “neutral” rating and a $10.75 price target on the stock. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a research note on Sunday, September 24th. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Lexington Realty Trust currently has an average rating of “Hold” and an average price target of $10.79.
Lexington Realty Trust (NYSE:LXP) opened at 10.20 on Friday. The stock has a 50 day moving average of $10.28 and a 200-day moving average of $10.04. The company has a market capitalization of $2.45 billion, a P/E ratio of 75.56 and a beta of 0.96. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.175 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 6.86%. Lexington Realty Trust’s dividend payout ratio is presently 500.00%.
In other news, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lexington Realty Trust by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock valued at $395,874,000 after purchasing an additional 251,811 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Lexington Realty Trust by 8,779.8% in the 1st quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock valued at $319,155,000 after purchasing an additional 31,619,409 shares in the last quarter. State Street Corp boosted its stake in shares of Lexington Realty Trust by 2.3% in the 2nd quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock valued at $63,887,000 after purchasing an additional 143,909 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Lexington Realty Trust by 2.7% in the 2nd quarter. Macquarie Group Ltd. now owns 5,300,736 shares of the real estate investment trust’s stock valued at $52,530,000 after purchasing an additional 140,478 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Lexington Realty Trust by 6.4% in the 2nd quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock valued at $39,939,000 after purchasing an additional 243,882 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.
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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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