Analysts forecast that Lexington Realty Trust (NYSE:LXP) will report earnings per share (EPS) of $0.25 for the current quarter, Zacks reports. Three analysts have issued estimates for Lexington Realty Trust’s earnings, with estimates ranging from $0.24 to $0.25. Lexington Realty Trust reported earnings per share of $0.23 in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The company is scheduled to issue its next earnings results on Tuesday, August 14th.
On average, analysts expect that Lexington Realty Trust will report full year earnings of $0.98 per share for the current year, with EPS estimates ranging from $0.97 to $0.99. For the next financial year, analysts forecast that the company will report earnings of $0.96 per share, with EPS estimates ranging from $0.93 to $1.00. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, May 8th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.32). The business had revenue of $102.60 million during the quarter, compared to the consensus estimate of $101.02 million. Lexington Realty Trust had a return on equity of 2.34% and a net margin of 7.33%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share.
Several research firms recently issued reports on LXP. ValuEngine downgraded shares of Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday. Stifel Nicolaus downgraded shares of 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 report on Tuesday, May 8th. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 12th. Barclays decreased their price objective on shares of Lexington Realty Trust from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, March 20th. Finally, Wells Fargo & Co decreased their price objective on shares of Lexington Realty Trust from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 19th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.68.
A number of institutional investors have recently modified their holdings of LXP. Canandaigua National Bank & Trust Co. bought a new stake in Lexington Realty Trust in the 1st quarter valued at $112,000. JOYN Advisors Inc. bought a new stake in Lexington Realty Trust in the 4th quarter valued at $113,000. Family Management Corp bought a new stake in Lexington Realty Trust in the 4th quarter valued at $121,000. BlueCrest Capital Management Ltd bought a new stake in Lexington Realty Trust in the 4th quarter valued at $150,000. Finally, Vident Investment Advisory LLC bought a new stake in Lexington Realty Trust in the 4th quarter valued at $154,000. 74.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Lexington Realty Trust traded up $0.09, hitting $8.71, during trading hours on Monday, according to Marketbeat. 2,498,400 shares of the stock were exchanged, compared to its average volume of 1,155,912. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.07 billion, a P/E ratio of 8.98, a P/E/G ratio of 1.96 and a beta of 0.89. Lexington Realty Trust has a one year low of $7.59 and a one year high of $10.65.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 8.15%. Lexington Realty Trust’s dividend payout ratio is currently 73.20%.
About Lexington Realty Trust
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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