Financial & Investment Management Group Ltd. Sells 518,528 Shares of Lexington Realty Trust (NYSE:LXP)

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Financial & Investment Management Group Ltd. trimmed its holdings in shares of Lexington Realty Trust (NYSE:LXP) by 89.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 59,660 shares of the real estate investment trust’s stock after selling 518,528 shares during the period. Financial & Investment Management Group Ltd.’s holdings in Lexington Realty Trust were worth $495,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its stake in shares of Lexington Realty Trust by 11.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 85,389 shares of the real estate investment trust’s stock valued at $745,000 after purchasing an additional 8,865 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of Lexington Realty Trust by 22.9% in the first quarter. Profund Advisors LLC now owns 48,942 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 9,129 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Lexington Realty Trust by 15.5% in the first quarter. Sei Investments Co. now owns 69,783 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 9,354 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Lexington Realty Trust by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 36,229 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 9,605 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Lexington Realty Trust by 37.3% during the first quarter. Cubist Systematic Strategies LLC now owns 39,285 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 10,665 shares during the last quarter. 73.61% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 16th. Jefferies Financial Group upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, October 12th. ValuEngine raised shares of Lexington Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $8.50 to $9.00 in a research report on Thursday, September 27th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Lexington Realty Trust has an average rating of “Hold” and a consensus price target of $8.60.

Shares of Lexington Realty Trust stock traded down $0.06 on Friday, hitting $8.41. The stock had a trading volume of 960,722 shares, compared to its average volume of 1,324,206. Lexington Realty Trust has a twelve month low of $7.59 and a twelve month high of $10.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.40 and a quick ratio of 0.14. The company has a market capitalization of $1.97 billion, a P/E ratio of 8.67, a P/E/G ratio of 4.40 and a beta of 0.84.

Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). The firm had revenue of $99.96 million for the quarter, compared to analyst estimates of $96.87 million. Lexington Realty Trust had a net margin of 56.75% and a return on equity of 19.03%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Equities analysts anticipate that Lexington Realty Trust will post 0.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date was Thursday, September 27th. Lexington Realty Trust’s payout ratio is 73.20%.

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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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

Institutional Ownership by Quarter for Lexington Realty Trust (NYSE:LXP)

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