Lexington Realty Trust (NYSE:LXP) – Jefferies Group lowered their Q2 2017 EPS estimates for Lexington Realty Trust in a report issued on Wednesday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.25. Jefferies Group currently has a “Hold” rating and a $11.00 price target on the stock.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The company had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $94.72 million. During the same period last year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year.
LXP has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 13th. Stifel Nicolaus restated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a report on Thursday, July 6th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Monday, March 20th. Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price objective for the company in a research report on Thursday, May 25th. Finally, BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.50.
Shares of Lexington Realty Trust (LXP) opened at 10.05 on Thursday. The stock’s 50 day moving average price is $9.84 and its 200-day moving average price is $10.36. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 29.73 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 6.97%. The ex-dividend date is Wednesday, June 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 218.76%.
In related news, EVP Joseph Bonventre sold 135,298 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $10.13, for a total value of $1,370,568.74. Following the completion of the transaction, the executive vice president now owns 360,709 shares of the company’s stock, valued at $3,653,982.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman E Robert Roskind sold 70,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $9.54, for a total transaction of $667,800.00. Following the completion of the transaction, the chairman now directly owns 792,435 shares of the company’s stock, valued at approximately $7,559,829.90. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LXP. Allianz Asset Management AG raised its position in Lexington Realty Trust by 17.8% in the fourth quarter. Allianz Asset Management AG now owns 48,399 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 7,324 shares during the period. Everence Capital Management Inc. acquired a new position in Lexington Realty Trust during the first quarter valued at about $147,000. Foundry Partners LLC raised its position in 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 valued at $9,250,000 after buying an additional 885,199 shares during the period. Teachers Advisors LLC raised its position in Lexington Realty Trust by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 383,869 shares of the real estate investment trust’s stock valued at $4,146,000 after buying an additional 15,305 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Lexington Realty Trust by 25.7% in the first quarter. State of Alaska Department of Revenue now owns 147,290 shares of the real estate investment trust’s stock valued at $1,469,000 after buying an additional 30,120 shares during the period. 74.00% of the stock is owned by hedge funds and other institutional investors.
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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