JPMorgan Chase & Co. boosted its position in shares of Lexington Realty Trust (NYSE:LXP) by 3,143.0% during the second quarter, Holdings Channel reports. The fund owned 364,969 shares of the real estate investment trust’s stock after buying an additional 353,715 shares during the period. JPMorgan Chase & Co. owned 0.16% of Lexington Realty Trust worth $3,689,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Hancock Holding Co. acquired a new position in shares of Lexington Realty Trust during the first quarter worth approximately $101,000. World Asset Management Inc acquired a new position in shares of Lexington Realty Trust during the second quarter worth approximately $108,000. Paragon Capital Management Ltd acquired a new position in shares of Lexington Realty Trust during the second quarter worth approximately $116,000. Genesee Valley Trust Co. acquired a new position in shares of Lexington Realty Trust during the second quarter worth approximately $125,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Lexington Realty Trust during the first quarter worth approximately $131,000. Hedge funds and other institutional investors own 71.58% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) traded up 1.1719% during trading on Monday, hitting $10.0666. The company had a trading volume of 77,350 shares. The firm’s 50 day moving average is $10.33 and its 200-day moving average is $9.86. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 19.5089 and a beta of 1.17. Lexington Realty Trust has a 52-week low of $6.52 and a 52-week high of $11.02.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. The firm earned $109.60 million during the quarter, compared to the consensus estimate of $103.72 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that Lexington Realty Trust will post $1.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. Lexington Realty Trust’s dividend payout ratio (DPR) is 134.62%.
A number of equities analysts have recently issued reports on LXP shares. Barclays PLC reaffirmed a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “neutral” rating on shares of Lexington Realty Trust in a research report on Wednesday, August 10th. Zacks Investment Research raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.25.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the transaction, the chief executive officer now owns 2,038,528 shares of the company’s stock, valued at approximately $21,812,249.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by corporate insiders.
Lexington Realty Trust Company Profile
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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