Wall Street analysts predict that Lexington Realty Trust (NYSE:LXP) will post sales of $78.72 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Lexington Realty Trust’s earnings, with the lowest sales estimate coming in at $77.10 million and the highest estimate coming in at $79.60 million. Lexington Realty Trust posted sales of $105.49 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 25.4%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, August 7th.
On average, analysts expect that Lexington Realty Trust will report full year sales of $311.42 million for the current year, with estimates ranging from $304.00 million to $315.09 million. For the next year, analysts forecast that the company will report sales of $308.54 million, with estimates ranging from $304.40 million to $312.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.10). Lexington Realty Trust had a net margin of 72.14% and a return on equity of 21.72%. The firm had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $80.70 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was down 21.0% compared to the same quarter last year.
Several research firms recently commented on LXP. Stifel Nicolaus set a $14.00 target price on Roadrunner Transportation Systems and gave the company a “hold” rating in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $9.29.
NYSE LXP traded down $0.15 on Monday, reaching $9.49. The stock had a trading volume of 1,389,922 shares, compared to its average volume of 1,448,615. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 13.75 and a beta of 0.88. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.37. Lexington Realty Trust has a 12-month low of $7.66 and a 12-month high of $9.88. The company’s fifty day moving average price is $9.46.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.102 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.41 annualized dividend and a yield of 4.30%. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 42.71%.
In other Lexington Realty Trust news, EVP Joseph Bonventre sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $9.30, for a total transaction of $186,000.00. Following the sale, the executive vice president now directly owns 362,103 shares in the company, valued at approximately $3,367,557.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.26% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LXP. Foundry Partners LLC boosted its position in Lexington Realty Trust by 10.6% during the second quarter. Foundry Partners LLC now owns 1,998,749 shares of the real estate investment trust’s stock worth $18,808,000 after purchasing an additional 191,502 shares during the period. CWM Advisors LLC boosted its position in shares of Lexington Realty Trust by 8.4% in the second quarter. CWM Advisors LLC now owns 17,961 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 1,395 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Lexington Realty Trust by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 82,841 shares of the real estate investment trust’s stock valued at $780,000 after acquiring an additional 1,400 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Lexington Realty Trust by 70.8% in the second quarter. Nisa Investment Advisors LLC now owns 21,630 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 8,965 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Lexington Realty Trust in the second quarter valued at about $23,741,000. Hedge funds and other institutional investors own 85.32% of the company’s stock.
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 industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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