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 Wednesday, March 21st.
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. “
A number of other research analysts have also recently commented on LXP. Wells Fargo reduced their target price 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. Barclays reduced their target price on Lexington Realty Trust from $10.00 to $9.00 and set an underweight rating on the stock in a research note on Tuesday, March 20th. Ladenburg Thalmann reissued a hold rating on shares of Lexington Realty Trust in a research note on Tuesday, November 28th. ValuEngine cut Lexington Realty Trust from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Evercore ISI cut Lexington Realty Trust from an outperform rating to an in-line rating in a research note on Monday, December 11th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Lexington Realty Trust has an average rating of Hold and a consensus price target of $10.22.
Shares of LXP stock traded down $0.11 on Wednesday, reaching $7.79. The company’s stock had a trading volume of 817,411 shares, compared to its average volume of 1,203,092. 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 12-month low of $7.68 and a 12-month high of $10.65. The company has a market capitalization of $1,909.29, a PE ratio of 8.03, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. Lexington Realty Trust had a return on equity of 6.64% and a net margin of 21.84%. The company had revenue of $102.17 million for the quarter, compared to the consensus estimate of $100.52 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. sell-side analysts forecast that Lexington Realty Trust will post 0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.1775 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 9.11%. Lexington Realty Trust’s dividend payout ratio is currently 73.20%.
Institutional investors have recently bought and sold shares of the company. JOYN Advisors Inc. purchased a new stake in shares of Lexington Realty Trust during the fourth quarter worth about $113,000. Family Management Corp purchased a new stake in Lexington Realty Trust in the fourth quarter worth about $121,000. BlueCrest Capital Management Ltd purchased a new stake in Lexington Realty Trust in the fourth quarter worth about $150,000. Vident Investment Advisory LLC purchased a new stake in Lexington Realty Trust in the fourth quarter worth about $154,000. Finally, Cipher Capital LP purchased a new stake in Lexington Realty Trust in the third quarter worth about $155,000. Institutional investors own 75.01% of the company’s stock.
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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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