Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research note released on Thursday, October 26th. The firm currently has $12.00 price target on the real estate investment trust’s stock.
According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “
LXP has been the subject of a number of other reports. Jefferies Group LLC reissued a hold rating and set a $11.00 price objective on shares of Lexington Realty Trust in a research report on Tuesday, October 24th. DA Davidson started coverage on Lexington Realty Trust in a research report on Monday, September 25th. They set a neutral rating and a $10.75 price objective for the company. KeyCorp reaffirmed a hold rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. Finally, BidaskClub downgraded Lexington Realty Trust from a hold rating to a sell rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Lexington Realty Trust presently has an average rating of Hold and a consensus price target of $10.79.
Shares of Lexington Realty Trust (NYSE:LXP) traded up $0.02 during trading hours on Thursday, reaching $10.51. 669,700 shares of the company’s stock were exchanged, compared to its average volume of 1,093,447. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $2,530.00, a price-to-earnings ratio of 11.04, a PEG ratio of 2.74 and a beta of 0.95. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $97.70 million for the quarter, compared to analyst estimates of $97.71 million. Lexington Realty Trust had a net margin of 17.96% and a return on equity of 5.29%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. equities analysts forecast that Lexington Realty Trust will post 0.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio is 241.38%.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Lexington Realty Trust by 0.6% during the second quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock worth $395,874,000 after purchasing an additional 251,811 shares during the last quarter. BlackRock Inc. raised its stake in shares of Lexington Realty Trust by 8,779.8% during the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after purchasing an additional 31,619,409 shares during the last quarter. State Street Corp raised its position in Lexington Realty Trust by 2.3% in the second quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock worth $63,887,000 after acquiring an additional 143,909 shares in the last quarter. Macquarie Group Ltd. raised its position in Lexington Realty Trust by 6.3% in the third quarter. Macquarie Group Ltd. now owns 5,633,077 shares of the real estate investment trust’s stock worth $57,570,000 after acquiring an additional 332,341 shares in the last quarter. Finally, Northern Trust Corp raised its position in Lexington Realty Trust by 6.4% in the second quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock worth $39,939,000 after acquiring an additional 243,882 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.
Lexington Realty Trust Company Profile
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.
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