Lexington Realty Trust (NYSE:LXP) Releases Earnings Results

Lexington Realty Trust (NYSE:LXP) announced its earnings results on Wednesday. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.39, Fidelity Earnings reports. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The company had revenue of $81.55 million during the quarter, compared to the consensus estimate of $79.80 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was down 18.7% on a year-over-year basis. Lexington Realty Trust updated its FY19 guidance to $0.77-0.80 EPS.

Shares of NYSE:LXP traded up $0.06 during trading on Friday, hitting $10.72. 66,367 shares of the company’s stock were exchanged, compared to its average volume of 1,480,171. Lexington Realty Trust has a 1-year low of $7.88 and a 1-year high of $10.93. The firm has a 50-day moving average price of $10.50 and a two-hundred day moving average price of $9.84. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.45 billion, a P/E ratio of 11.17, a PEG ratio of -20.29 and a beta of 0.84.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.105 per share. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.42 annualized dividend and a dividend yield of 3.92%. Lexington Realty Trust’s payout ratio is currently 42.71%.

Several brokerages have recently commented on LXP. Wells Fargo & Co cut shares of Lexington Realty Trust from an “outperform” rating to a “market perform” rating and set a $10.50 price target for the company. in a research report on Monday, August 26th. Zacks Investment Research cut shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $9.50 to $11.00 in a research report on Wednesday, August 7th. Finally, Evercore ISI set a $10.00 price target on shares of Lexington Realty Trust and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.63.

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

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Earnings History for Lexington Realty Trust (NYSE:LXP)

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