Lexington Realty Trust (LXP) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a report published on Friday morning, Marketbeat Ratings reports. Jefferies Financial Group also issued estimates for Lexington Realty Trust’s Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.94 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.17 EPS, FY2019 earnings at $0.74 EPS, Q1 2020 earnings at $0.18 EPS, Q2 2020 earnings at $0.21 EPS, Q3 2020 earnings at $0.18 EPS and FY2020 earnings at $0.79 EPS.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Lexington Realty Trust from a hold rating to a sell rating in a research note on Thursday, August 2nd. ValuEngine upgraded Lexington Realty Trust from a strong sell rating to a sell rating in a research note on Monday, October 8th. Finally, Wells Fargo & Co upgraded Lexington Realty Trust from a market perform rating to an outperform rating and boosted their price target for the stock from $8.50 to $9.00 in a research note on Thursday, September 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $9.17.

Shares of LXP stock traded up $0.02 during mid-day trading on Friday, hitting $7.81. The company’s stock had a trading volume of 3,131,768 shares, compared to its average volume of 1,268,743. Lexington Realty Trust has a 52-week low of $7.59 and a 52-week high of $10.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $1.99 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.94 and a beta of 0.85.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.25). Lexington Realty Trust had a return on equity of 1.69% and a net margin of 4.99%. The business had revenue of $105.50 million during the quarter, compared to analysts’ expectations of $101.91 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Lexington Realty Trust will post 0.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date of this dividend is Thursday, September 27th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 73.20%.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Lexington Realty Trust by 6.4% during the second quarter. BlackRock Inc. now owns 36,067,793 shares of the real estate investment trust’s stock valued at $314,871,000 after acquiring an additional 2,182,275 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Lexington Realty Trust by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,466,420 shares of the real estate investment trust’s stock valued at $30,262,000 after purchasing an additional 27,694 shares during the period. Systematic Financial Management LP grew its holdings in Lexington Realty Trust by 15.1% during the second quarter. Systematic Financial Management LP now owns 1,783,917 shares of the real estate investment trust’s stock valued at $15,574,000 after purchasing an additional 233,496 shares during the period. Principal Financial Group Inc. grew its holdings in Lexington Realty Trust by 2.4% during the first quarter. Principal Financial Group Inc. now owns 1,682,892 shares of the real estate investment trust’s stock valued at $13,244,000 after purchasing an additional 39,669 shares during the period. Finally, Millennium Management LLC grew its holdings in Lexington Realty Trust by 41.0% during the first quarter. Millennium Management LLC now owns 1,564,334 shares of the real estate investment trust’s stock valued at $12,311,000 after purchasing an additional 455,231 shares during the period. Institutional investors own 73.49% of the company’s stock.

Lexington Realty Trust Company Profile

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.

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Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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