Other analysts have also issued reports about the stock. Jefferies Group lowered shares of Lexington Realty Trust from a buy rating to a hold rating and set a $11.00 price objective for the company. in a research note on Tuesday, July 19th. Evercore ISI lowered shares of Lexington Realty Trust from a buy rating to a hold rating and lifted their price target for the stock from $9.75 to $10.00 in a research note on Monday, June 13th. Barclays PLC reiterated a hold rating and issued a $10.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, August 16th. Finally, Zacks Investment Research upgraded shares of Lexington Realty Trust from a sell rating to a hold rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Lexington Realty Trust presently has an average rating of Hold and an average target price of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 10.01 on Tuesday. The company’s 50 day moving average is $10.35 and its 200-day moving average is $9.85. Lexington Realty Trust has a 52 week low of $6.52 and a 52 week high of $11.02. The stock has a market capitalization of $2.37 billion, a PE ratio of 19.40 and a beta of 1.17.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business earned $109.60 million during the quarter, compared to analyst estimates of $103.72 million. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. Lexington Realty Trust’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. On average, equities analysts predict that Lexington Realty Trust will post $1.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 6.99%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, September 28th. Lexington Realty Trust’s payout ratio is 134.62%.
In related news, Vice Chairman Richard J. Rouse sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $10.70, for a total transaction of $267,500.00. Following the completion of the sale, the insider now directly owns 628,648 shares in the company, valued at $6,726,533.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Lexington Realty Trust by 7.8% in the second quarter. Vanguard Group Inc. now owns 35,806,396 shares of the real estate investment trust’s stock valued at $362,002,000 after buying an additional 2,594,675 shares during the period. BlackRock Fund Advisors raised its stake in shares of Lexington Realty Trust by 7.4% in the second quarter. BlackRock Fund Advisors now owns 15,516,290 shares of the real estate investment trust’s stock valued at $156,870,000 after buying an additional 1,075,144 shares during the period. LSV Asset Management raised its stake in shares of Lexington Realty Trust by 9.8% in the second quarter. LSV Asset Management now owns 11,891,830 shares of the real estate investment trust’s stock valued at $120,226,000 after buying an additional 1,060,380 shares during the period. Global X Management Co. LLC raised its stake in shares of Lexington Realty Trust by 4,663.0% in the second quarter. Global X Management Co. LLC now owns 902,583 shares of the real estate investment trust’s stock valued at $9,125,000 after buying an additional 883,633 shares during the period. Finally, Gradient Investments LLC acquired a new stake in shares of Lexington Realty Trust during the third quarter valued at about $4,529,000. Institutional investors own 71.41% of the company’s stock.
About Lexington Realty Trust
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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