PNC Financial Services Group Inc. Sells 503 Shares of Lexington Realty Trust (LXP)

PNC Financial Services Group Inc. decreased its position in Lexington Realty Trust (NYSE:LXP) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,868 shares of the real estate investment trust’s stock after selling 503 shares during the period. PNC Financial Services Group Inc.’s holdings in Lexington Realty Trust were worth $199,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in 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 last quarter. Norges Bank purchased a new stake in Lexington Realty Trust during the fourth quarter worth $26,259,000. Principal Financial Group Inc. raised its stake in Lexington Realty Trust by 4.6% in the first quarter. Principal Financial Group Inc. now owns 1,685,549 shares of the real estate investment trust’s stock worth $16,822,000 after buying an additional 73,962 shares during the last quarter. American Century Companies Inc. raised its stake in Lexington Realty Trust by 32.5% in the first quarter. American Century Companies Inc. now owns 1,544,936 shares of the real estate investment trust’s stock worth $15,418,000 after buying an additional 378,657 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Lexington Realty Trust by 2.1% in the first quarter. Systematic Financial Management LP now owns 1,111,099 shares of the real estate investment trust’s stock worth $11,089,000 after buying an additional 22,964 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Lexington Realty Trust (NYSE:LXP) opened at 9.89 on Wednesday. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The firm has a 50-day moving average of $10.09 and a 200 day moving average of $10.24. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.26 and a beta of 0.96.

Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $95.41 million. During the same quarter last year, the firm posted $0.29 earnings per share. Lexington Realty Trust’s revenue was down 12.7% compared to the same quarter last year. On average, analysts anticipate that Lexington Realty Trust will post $0.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.175 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.08%. Lexington Realty Trust’s dividend payout ratio (DPR) is 218.76%.

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LXP has been the topic of a number of recent research reports. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, May 18th. Zacks Investment Research lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Evercore ISI upgraded shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 target price on the stock in a research note on Thursday, May 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.60.

In other news, Chairman E Robert Roskind sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was 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 in the company, valued at approximately $7,559,829.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Bonventre sold 135,298 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $10.13, for a total value of $1,370,568.74. Following the completion of the sale, the executive vice president now 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 currently owned by insiders.

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.

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

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