Shikiar Asset Management Inc. grew its position in Lexington Realty Trust (NYSE:LXP) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 829,875 shares of the real estate investment trust’s stock after purchasing an additional 64,575 shares during the quarter. Lexington Realty Trust comprises approximately 2.7% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in Lexington Realty Trust were worth $6,888,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Family Management Corp purchased a new stake in shares of Lexington Realty Trust during the second quarter valued at $109,000. Wedbush Securities Inc. purchased a new stake in shares of Lexington Realty Trust during the second quarter valued at $117,000. Paloma Partners Management Co purchased a new stake in shares of Lexington Realty Trust during the second quarter valued at $122,000. Creative Planning purchased a new stake in shares of Lexington Realty Trust during the third quarter valued at $128,000. Finally, Financial Counselors Inc. purchased a new stake in shares of Lexington Realty Trust during the second quarter valued at $140,000. 73.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on LXP shares. Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $8.50 to $9.00 in a report on Thursday, September 27th. Jefferies Financial Group raised 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 report on Monday, October 8th. Finally, Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.60.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). The business 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 company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities analysts predict that Lexington Realty Trust will post 0.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.1775 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.71 dividend on an annualized basis and a yield of 8.50%. Lexington Realty Trust’s dividend payout ratio is presently 73.20%.
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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