Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a sell rating to a hold rating in a research report sent to investors on Saturday.
According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “
Other equities research analysts have also recently issued reports about the company. ValuEngine raised Lexington Realty Trust from a strong sell rating to a sell rating in a research note on Friday, June 22nd. Jefferies Financial Group reaffirmed a hold rating and set a $9.00 price objective on shares of Lexington Realty Trust in a research note on Thursday. Finally, Stifel Nicolaus cut Lexington Realty Trust from a hold rating to a sell rating and decreased their price objective for the stock from $8.50 to $7.00 in a research note on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Lexington Realty Trust currently has a consensus rating of Hold and a consensus price target of $9.39.
Shares of Lexington Realty Trust traded down $0.01, reaching $8.85, during trading on Friday, MarketBeat reports. 1,160,312 shares of the company were exchanged, compared to its average volume of 734,322. The company has a quick ratio of 0.13, a current ratio of 0.14 and a debt-to-equity ratio of 0.64. Lexington Realty Trust has a twelve month low of $7.59 and a twelve month high of $10.65. The stock has a market cap of $2.13 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.25). Lexington Realty Trust had a return on equity of 1.69% and a net margin of 4.99%. The company had revenue of $105.50 million for the quarter, compared to analyst estimates of $101.91 million. During the same period last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. analysts expect that Lexington Realty Trust will post 0.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Friday, June 29th were paid a $0.1775 dividend. The ex-dividend date was Thursday, June 28th. This represents a $0.71 dividend on an annualized basis and a yield of 8.02%. Lexington Realty Trust’s payout ratio is 73.20%.
A number of large investors have recently bought and sold shares of LXP. Canandaigua National Bank & Trust Co. acquired a new position in Lexington Realty Trust in the first quarter valued at about $112,000. Wedbush Securities Inc. acquired a new position in shares of Lexington Realty Trust during the second quarter worth about $117,000. Financial Counselors Inc. acquired a new position in shares of Lexington Realty Trust during the second quarter worth about $140,000. Element Capital Management LLC acquired a new position in shares of Lexington Realty Trust during the first quarter worth about $155,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Lexington Realty Trust during the second quarter worth about $246,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Lexington Realty Trust Company 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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