Brokerages Anticipate Lexington Realty Trust (LXP) Will Post Quarterly Sales of $97.97 Million
Equities research analysts expect Lexington Realty Trust (NYSE:LXP) to post $97.97 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Lexington Realty Trust’s earnings, with estimates ranging from $90.50 million to $104.94 million. Lexington Realty Trust posted sales of $95.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Lexington Realty Trust will report full-year sales of $97.97 million for the current financial year, with estimates ranging from $356.14 million to $394.41 million. For the next financial year, analysts forecast that the firm will post sales of $398.37 million per share, with estimates ranging from $369.43 million to $435.94 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Lexington Realty Trust had a net margin of 17.96% and a return on equity of 5.29%. The company had revenue of $97.70 million for the quarter, compared to analyst estimates of $97.71 million. During the same period last year, the firm earned $0.28 earnings per share. The firm’s revenue was down 8.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of LXP. Adviser Investments LLC purchased a new stake in Lexington Realty Trust during the third quarter worth about $109,000. Tocqueville Asset Management L.P. increased its holdings 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 buying an additional 100 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Lexington Realty Trust by 86.3% during the second quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 6,384 shares during the last quarter. World Asset Management Inc increased its holdings in Lexington Realty Trust by 1.0% during the second quarter. World Asset Management Inc now owns 14,014 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 144 shares during the last quarter. Finally, Ingalls & Snyder LLC purchased a new stake in Lexington Realty Trust during the third quarter worth about $140,000. Institutional investors and hedge funds own 73.97% of the company’s stock.
Lexington Realty Trust (LXP) traded down $0.12 on Thursday, hitting $10.21. 462,700 shares of the company were exchanged, compared to its average volume of 1,073,969. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.19 and a quick ratio of 0.19. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42. The company has a market capitalization of $2,485.85, a price-to-earnings ratio of 10.87, a P/E/G ratio of 2.70 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Thursday, December 28th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio (DPR) is 259.26%.
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About Lexington Realty Trust
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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