Comerica Bank Lowers Stake in Lexington Realty Trust (LXP)

Comerica Bank cut its stake in shares of Lexington Realty Trust (NYSE:LXP) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 207,165 shares of the real estate investment trust’s stock after selling 21,195 shares during the period. Comerica Bank owned 0.09% of Lexington Realty Trust worth $1,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LXP. Principal Financial Group Inc. grew its holdings in Lexington Realty Trust by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,682,892 shares of the real estate investment trust’s stock valued at $13,244,000 after buying an additional 39,669 shares in the last quarter. Aperio Group LLC boosted its position in shares of Lexington Realty Trust by 30.3% during the 2nd quarter. Aperio Group LLC now owns 78,627 shares of the real estate investment trust’s stock valued at $686,000 after acquiring an additional 18,268 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Lexington Realty Trust during the 2nd quarter valued at about $878,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Lexington Realty Trust by 10.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 228,243 shares of the real estate investment trust’s stock valued at $1,993,000 after acquiring an additional 22,265 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Lexington Realty Trust by 25.3% during the 2nd quarter. First Trust Advisors LP now owns 278,073 shares of the real estate investment trust’s stock valued at $2,428,000 after acquiring an additional 56,226 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on LXP shares. Wells Fargo & Co upgraded Lexington Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $8.50 to $9.00 in a research report on Thursday, September 27th. Jefferies Financial Group upgraded Lexington Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. ValuEngine upgraded Lexington Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Lexington Realty Trust currently has an average rating of “Hold” and an average target price of $8.60.

Shares of LXP opened at $8.78 on Monday. The stock has a market cap of $2.07 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 3.83 and a beta of 0.84. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. Lexington Realty Trust has a 12-month low of $7.59 and a 12-month high of $10.60.

Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.16). The business had revenue of $99.96 million for the quarter, compared to the consensus estimate of $96.87 million. Lexington Realty Trust had a net margin of 56.75% and a return on equity of 19.03%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts forecast that Lexington Realty Trust will post 0.94 earnings per share for the current year.

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Lexington Realty Trust Profile

Lexington Realty Trust (NYSE:LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased commercial properties across the United States. Lexington seeks to expand its portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

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Institutional Ownership by Quarter for Lexington Realty Trust (NYSE:LXP)

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