Lexington Realty Trust (NYSE:LXP) – Analysts at KeyCorp upped their FY2017 earnings estimates for Lexington Realty Trust in a research report issued on Tuesday. KeyCorp analyst C. Mailman now anticipates that the firm will post earnings of $1.00 per share for the year, up from their prior estimate of $0.97. KeyCorp currently has a “Hold” rating on the stock.
Other analysts have also issued reports about the company. Barclays PLC reiterated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a report on Tuesday, August 16th. Jefferies Group reiterated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday, August 10th. Finally, Zacks Investment Research lowered Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) traded down 0.70% on Friday, reaching $9.94. The company’s stock had a trading volume of 416,727 shares. The firm’s 50 day moving average is $10.35 and its 200-day moving average is $9.85. The stock has a market cap of $2.36 billion, a P/E ratio of 19.26 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 issued its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The firm had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.175 dividend. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date of this dividend is Wednesday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 134.62%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,038,528 shares of the company’s stock, valued at $21,812,249.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in LXP. Gradient Investments LLC purchased a new stake in Lexington Realty Trust during the third quarter worth about $4,529,000. Foundry Partners LLC increased its stake in Lexington Realty Trust by 19.8% in the third quarter. Foundry Partners LLC now owns 42,921 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 7,097 shares in the last quarter. Macquarie Group Ltd. increased its stake in Lexington Realty Trust by 1.5% in the second quarter. Macquarie Group Ltd. now owns 5,090,168 shares of the real estate investment trust’s stock worth $51,462,000 after buying an additional 75,645 shares in the last quarter. Carnick & Kubik Group LLC purchased a new stake in Lexington Realty Trust during the second quarter worth about $216,000. Finally, Mason Street Advisors LLC purchased a new stake in Lexington Realty Trust during the second quarter worth about $418,000. 71.41% of the stock is owned by institutional investors and hedge funds.
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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