Lexington Realty Trust (NYSE:LXP) had its price target reduced by equities researchers at Barclays from $10.00 to $9.00 in a report released on Tuesday, March 20th. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Barclays’ price target points to a potential upside of 15.53% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Evercore ISI cut Lexington Realty Trust from an “outperform” rating to an “in-line” rating in a research report on Monday, December 11th. ValuEngine downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Ladenburg Thalmann reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research note on Tuesday, November 28th. Zacks Investment Research downgraded Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 3rd. Finally, Wells Fargo decreased their price objective on Lexington Realty Trust from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, March 19th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.22.
NYSE:LXP traded down $0.11 on Tuesday, hitting $7.79. The stock had a trading volume of 817,411 shares, compared to its average volume of 1,203,092. The stock has a market capitalization of $1,909.29, a price-to-earnings ratio of 8.03, a PEG ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.14 and a current ratio of 0.14. Lexington Realty Trust has a 52-week low of $7.68 and a 52-week high of $10.65.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The business had revenue of $102.17 million for the quarter, compared to analysts’ expectations of $100.52 million. Lexington Realty Trust had a return on equity of 6.64% and a net margin of 21.84%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. equities analysts forecast that Lexington Realty Trust will post 0.98 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of LXP. BNP Paribas Arbitrage SA raised its stake in Lexington Realty Trust by 30.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 183,688 shares of the real estate investment trust’s stock valued at $1,877,000 after purchasing an additional 42,642 shares during the period. Sei Investments Co. raised its stake in Lexington Realty Trust by 14.7% during the 3rd quarter. Sei Investments Co. now owns 61,244 shares of the real estate investment trust’s stock valued at $626,000 after purchasing an additional 7,830 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Lexington Realty Trust by 58.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 81,170 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 30,100 shares during the period. Rhumbline Advisers raised its stake in Lexington Realty Trust by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 513,001 shares of the real estate investment trust’s stock valued at $5,243,000 after purchasing an additional 5,377 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Lexington Realty Trust by 26.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 196,699 shares of the real estate investment trust’s stock valued at $2,010,000 after purchasing an additional 41,024 shares during the period. 75.01% of the stock is currently owned by institutional investors.
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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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