Lexington Realty Trust (LXP) Rating Lowered to Hold at Zacks Investment Research

Lexington Realty Trust (NYSE:LXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

A number of other equities analysts have also recently issued reports on LXP. BidaskClub cut Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. DA Davidson assumed coverage on Lexington Realty Trust in a report on Monday, September 25th. They set a “neutral” rating and a $10.75 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price objective on shares of Lexington Realty Trust in a report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Lexington Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $10.79.

Shares of Lexington Realty Trust (NYSE:LXP) traded up $0.14 on Friday, reaching $10.49. The company’s stock had a trading volume of 566,100 shares, compared to its average volume of 713,492. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.14 and a current ratio of 0.19. Lexington Realty Trust has a 12-month low of $9.00 and a 12-month high of $11.42. The company has a market capitalization of $2,524.36, a PE ratio of 11.04, a P/E/G ratio of 2.74 and a beta of 0.95.

Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a return on equity of 5.29% and a net margin of 17.96%. The firm had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $97.71 million. During the same quarter last year, the business earned $0.28 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. equities analysts expect that Lexington Realty Trust will post 0.96 earnings per share for the current fiscal year.

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In related news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $9.81, for a total value of $237,107.70. Following the sale, the chief executive officer now owns 2,223,251 shares of the company’s stock, valued at approximately $21,810,092.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group raised its position in Lexington Realty Trust by 18.4% in the 3rd quarter. Schroder Investment Management Group now owns 168,712 shares of the real estate investment trust’s stock valued at $1,726,000 after buying an additional 26,172 shares during the last quarter. JPMorgan Chase & Co. raised its position in Lexington Realty Trust by 62.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 473,193 shares of the real estate investment trust’s stock valued at $4,840,000 after buying an additional 181,296 shares during the last quarter. Legal & General Group Plc raised its position in Lexington Realty Trust by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 1,142,598 shares of the real estate investment trust’s stock valued at $11,679,000 after buying an additional 67,623 shares during the last quarter. American International Group Inc. raised its position in Lexington Realty Trust by 5.8% in the 3rd quarter. American International Group Inc. now owns 171,590 shares of the real estate investment trust’s stock valued at $1,754,000 after buying an additional 9,360 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in Lexington Realty Trust by 6.3% in the 3rd quarter. Systematic Financial Management LP now owns 1,209,066 shares of the real estate investment trust’s stock valued at $12,357,000 after buying an additional 72,190 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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