Lexington Realty Trust (NYSE:LXP) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $15.00 price objective on the real estate investment trust’s stock.

According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “

Separately, Wells Fargo & Company lifted their price target on shares of Lexington Realty Trust from $14.00 to $16.00 and gave the company an overweight rating in a report on Wednesday, September 8th.

Shares of LXP stock opened at $13.68 on Tuesday. Lexington Realty Trust has a 12-month low of $9.82 and a 12-month high of $14.10. The company has a market capitalization of $3.80 billion, a P/E ratio of 14.87 and a beta of 0.60. The firm has a 50-day moving average price of $13.17 and a 200 day moving average price of $12.34. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28.

Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.07. Lexington Realty Trust had a net margin of 76.04% and a return on equity of 13.71%. The firm had revenue of $81.54 million during the quarter, compared to the consensus estimate of $78.78 million. During the same period last year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts expect that Lexington Realty Trust will post 0.76 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Lexington Realty Trust by 31.4% in the first quarter. JPMorgan Chase & Co. now owns 2,819,734 shares of the real estate investment trust’s stock worth $31,327,000 after acquiring an additional 673,168 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Lexington Realty Trust by 24.6% in the first quarter. BNP Paribas Arbitrage SA now owns 282,878 shares of the real estate investment trust’s stock worth $3,143,000 after acquiring an additional 55,902 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lexington Realty Trust by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,368,837 shares of the real estate investment trust’s stock worth $57,017,000 after acquiring an additional 555,403 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Lexington Realty Trust by 278.9% in the first quarter. Renaissance Technologies LLC now owns 907,082 shares of the real estate investment trust’s stock worth $10,078,000 after acquiring an additional 667,700 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Lexington Realty Trust by 23.3% in the first quarter. Teacher Retirement System of Texas now owns 29,880 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 5,644 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Lexington Realty Trust Company Profile

Lexington Realty Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. It also provides investment advisory and asset management services. The company was founded by E. Robert Roskind in October 1993 and is headquartered in New York, NY.

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