Lexington Realty Trust (NYSE:LXP) Expected to Announce Quarterly Sales of $80.91 Million

Equities research analysts expect Lexington Realty Trust (NYSE:LXP) to report sales of $80.91 million for the current quarter, Zacks reports. Three analysts have made estimates for Lexington Realty Trust’s earnings. The lowest sales estimate is $80.27 million and the highest is $81.40 million. Lexington Realty Trust reported sales of $81.55 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The business is expected to issue its next earnings results on Wednesday, November 4th.

According to Zacks, analysts expect that Lexington Realty Trust will report full-year sales of $322.19 million for the current year, with estimates ranging from $320.43 million to $324.10 million. For the next fiscal year, analysts forecast that the company will report sales of $325.65 million, with estimates ranging from $321.60 million to $329.55 million. Zacks’ sales averages are an average based on a survey of analysts that follow Lexington Realty Trust.

Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.13). The business had revenue of $81.79 million for the quarter, compared to the consensus estimate of $79.61 million. Lexington Realty Trust had a net margin of 81.16% and a return on equity of 16.26%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS.

A number of analysts have commented on the stock. ValuEngine upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. TheStreet upgraded shares of Lexington Realty Trust from a “c+” rating to a “b-” rating in a research note on Monday, August 10th. Finally, Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Five equities research analysts have rated the stock with a hold rating, Lexington Realty Trust has an average rating of “Hold” and a consensus price target of $10.38.

Shares of LXP stock opened at $10.50 on Friday. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.10 and a beta of 0.65. The firm has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $10.47. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.26. Lexington Realty Trust has a 12 month low of $7.86 and a 12 month high of $12.08.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.105 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $0.42 annualized dividend and a dividend yield of 4.00%. Lexington Realty Trust’s payout ratio is 52.50%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Lexington Realty Trust by 108.6% in the 1st quarter. Van ECK Associates Corp now owns 2,958 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,540 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Lexington Realty Trust during the first quarter valued at about $61,000. Advisors Asset Management Inc. bought a new position in Lexington Realty Trust during the second quarter valued at about $92,000. Mutual of America Capital Management LLC grew its position in Lexington Realty Trust by 21.0% during the first quarter. Mutual of America Capital Management LLC now owns 10,711 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,862 shares during the period. Finally, Canandaigua National Corp bought a new position in Lexington Realty Trust during the second quarter valued at about $110,000. Hedge funds and other institutional investors own 93.06% 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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