Shares of Lexington Realty Trust (NYSE:LXP) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.50.
Several brokerages have recently commented on LXP. Zacks Investment Research cut shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Monday, March 20th. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Thursday.
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In other news, Chairman E Robert Roskind sold 70,000 shares of Lexington Realty Trust stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $9.54, for a total transaction of $667,800.00. Following the transaction, the chairman now owns 792,435 shares in the company, valued at $7,559,829.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Bonventre sold 135,298 shares of Lexington Realty Trust stock in a transaction on Monday, June 12th. The stock was sold at an average price of $10.13, for a total transaction of $1,370,568.74. Following the transaction, the executive vice president now owns 360,709 shares in the company, valued at approximately $3,653,982.17. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after buying an additional 31,619,409 shares during the period. Norges Bank acquired a new position in shares of Lexington Realty Trust during the fourth quarter worth approximately $26,259,000. Vanguard Group Inc. raised its position in shares of Lexington Realty Trust by 3.1% in the first quarter. Vanguard Group Inc. now owns 39,695,075 shares of the real estate investment trust’s stock worth $396,156,000 after buying an additional 1,204,191 shares during the period. Foundry Partners LLC raised its position in shares of Lexington Realty Trust by 2,123.0% in the first quarter. Foundry Partners LLC now owns 926,895 shares of the real estate investment trust’s stock worth $9,250,000 after buying an additional 885,199 shares during the period. Finally, State Street Corp raised its position in shares of Lexington Realty Trust by 8.1% in the first quarter. State Street Corp now owns 6,302,258 shares of the real estate investment trust’s stock worth $62,902,000 after buying an additional 472,738 shares during the period. Institutional investors own 74.00% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) traded down 1.42% on Monday, reaching $9.74. The company’s stock had a trading volume of 569,894 shares. The stock’s 50 day moving average is $9.84 and its 200-day moving average is $10.36. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The firm has a market capitalization of $2.34 billion, a PE ratio of 28.82 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. The business had revenue of $96.10 million for the quarter, compared to the consensus estimate of $94.72 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. Analysts predict that Lexington Realty Trust will post $0.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.175 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.70 dividend on an annualized basis and a yield of 7.19%. Lexington Realty Trust’s dividend payout ratio is currently 218.76%.
About Lexington Realty Trust
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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