Lexington Realty Trust (NYSE:LXP) Issues FY 2019 Earnings Guidance

Lexington Realty Trust (NYSE:LXP) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.76-0.80 for the period. Lexington Realty Trust also updated its FY19 guidance to $0.76-0.80 EPS.

Several brokerages have recently issued reports on LXP. Zacks Investment Research upgraded shares of Lexington Realty Trust from a hold rating to a buy rating and set a $11.00 target price on the stock in a research note on Saturday, August 3rd. Stifel Nicolaus upgraded shares of Lexington Realty Trust from a hold rating to a buy rating and upped their target price for the stock from $9.50 to $11.00 in a research note on Wednesday. Finally, Evercore ISI set a $10.00 target price on shares of Lexington Realty Trust and gave the stock a buy rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $10.25.

Shares of NYSE LXP traded up $0.03 during midday trading on Friday, hitting $10.27. The stock had a trading volume of 1,388,668 shares, compared to its average volume of 1,258,958. The firm’s 50 day moving average is $9.60. The stock has a market cap of $2.32 billion, a P/E ratio of 10.70, a P/E/G ratio of -19.38 and a beta of 0.89. Lexington Realty Trust has a 52 week low of $7.66 and a 52 week high of $10.29. The company has a current ratio of 0.12, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.61 million. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The business’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Sell-side analysts expect that Lexington Realty Trust will post 0.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.102 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.41 annualized dividend and a dividend yield of 3.97%. Lexington Realty Trust’s dividend payout ratio is presently 42.71%.

In other news, EVP Joseph Bonventre sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $9.30, for a total value of $186,000.00. Following the transaction, the executive vice president now owns 362,103 shares in the company, valued at $3,367,557.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.26% of the company’s stock.

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

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Earnings History and Estimates for Lexington Realty Trust (NYSE:LXP)

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