Lexington Realty Trust (LXP) Rating Reiterated by Jefferies Group LLC

Lexington Realty Trust (NYSE:LXP)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a research note issued on Friday. They presently have a $11.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s price target suggests a potential upside of 9.24% from the stock’s current price.

LXP has been the subject of several other reports. BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Monday, March 20th. Finally, Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Lexington Realty Trust has an average rating of “Hold” and an average price target of $10.67.

Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

Shares of Lexington Realty Trust (NYSE:LXP) traded up 0.99% during mid-day trading on Friday, hitting $10.17. The company had a trading volume of 1,044,110 shares. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 30.09 and a beta of 0.96. The firm has a 50-day moving average price of $9.79 and a 200 day moving average price of $10.38.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $94.72 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. Lexington Realty Trust’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Analysts expect that Lexington Realty Trust will post $0.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a $0.175 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.70 dividend on an annualized basis and a yield of 6.95%. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 218.76%.

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In related news, Chairman E Robert Roskind sold 70,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $9.54, for a total value of $667,800.00. Following the completion of the sale, the chairman now directly owns 792,435 shares of the company’s stock, valued at $7,559,829.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph Bonventre sold 135,298 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $10.13, for a total transaction of $1,370,568.74. Following the completion of the sale, the executive vice president now directly owns 360,709 shares of the company’s stock, valued at $3,653,982.17. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in LXP. Vanguard Group Inc. boosted its stake in shares of Lexington Realty Trust by 3.1% in the first quarter. Vanguard Group Inc. now owns 39,695,075 shares of the real estate investment trust’s stock worth $396,156,000 after buying an additional 1,204,191 shares during the period. BlackRock Inc. boosted its stake in shares of Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after buying an additional 31,619,409 shares during the period. State Street Corp boosted its stake in shares of Lexington Realty Trust by 8.1% in the first quarter. State Street Corp now owns 6,302,258 shares of the real estate investment trust’s stock worth $62,902,000 after buying an additional 472,738 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Lexington Realty Trust by 2.5% in the first quarter. Macquarie Group Ltd. now owns 5,160,258 shares of the real estate investment trust’s stock worth $51,500,000 after buying an additional 126,472 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lexington Realty Trust by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 3,669,536 shares of the real estate investment trust’s stock worth $36,622,000 after buying an additional 89,052 shares during the period. 74.00% of the stock is owned by hedge funds and other institutional investors.

About Lexington Realty Trust

Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LXP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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