Lexington Realty Trust (NYSE:LXP) – Equities researchers at Jefferies Group issued their FY2019 EPS estimates for Lexington Realty Trust in a research report issued on Wednesday. Jefferies Group analyst J. Petersen expects that the real estate investment trust will post earnings of $1.06 per share for the year. Jefferies Group currently has a “Hold” rating and a $11.00 price target on the stock.
Several other research firms have also issued reports on LXP. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, May 18th. Zacks Investment Research lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. 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 research note on Thursday, May 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Finally, BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.50.
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Shares of Lexington Realty Trust (LXP) opened at 10.17 on Friday. The firm has a 50-day moving average of $9.84 and a 200 day moving average of $10.36. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The company has a market cap of $2.44 billion, a P/E ratio of 30.09 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The firm had revenue of $96.10 million during the quarter, compared to the consensus estimate of $94.72 million. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC raised its position in Lexington Realty Trust by 19.0% in the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,876 shares during the period. GW&K Investment Management LLC bought a new position in Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC bought a new position in Lexington Realty Trust during the first quarter worth about $129,000. James Investment Research Inc. bought a new position in Lexington Realty Trust during the first quarter worth about $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lexington Realty Trust by 5.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 737 shares during the period. Institutional investors own 74.00% of the company’s stock.
In other news, EVP Joseph Bonventre sold 135,298 shares of Lexington Realty Trust stock in a transaction on Monday, June 12th. The shares were sold at an average price of $10.13, for a total value of $1,370,568.74. Following the completion of the sale, the executive vice president now owns 360,709 shares in the company, valued at approximately $3,653,982.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman E Robert Roskind sold 70,000 shares of Lexington Realty Trust stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $9.54, for a total transaction of $667,800.00. Following the completion of the sale, the chairman now owns 792,435 shares of the company’s stock, valued at approximately $7,559,829.90. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.175 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 6.88%. Lexington Realty Trust’s dividend payout ratio is currently 218.76%.
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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