Manning & Napier Group LLC lowered its holdings in shares of Lexington Realty Trust (NYSE:LXP) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 377,090 shares of the real estate investment trust’s stock after selling 40,630 shares during the quarter. Manning & Napier Group LLC’s holdings in Lexington Realty Trust were worth $3,863,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in Lexington Realty Trust during the second quarter valued at $85,000. Allianz Asset Management GmbH purchased a new stake in shares of Lexington Realty Trust in the second quarter valued at $97,000. Holocene Advisors LP purchased a new stake in shares of Lexington Realty Trust in the second quarter valued at $97,000. Private Advisor Group LLC purchased a new stake in shares of Lexington Realty Trust in the second quarter valued at $106,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Lexington Realty Trust in the first quarter valued at $105,000. Institutional investors and hedge funds own 87.72% of the company’s stock.
LXP has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Lexington Realty Trust from a “buy” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Co downgraded shares of Lexington Realty Trust from an “outperform” rating to a “market perform” rating and set a $10.50 target price on the stock. in a research note on Monday, August 26th. Stifel Nicolaus raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the company from $9.50 to $11.00 in a research note on Wednesday, August 7th. Finally, Evercore ISI set a $10.00 target price on shares of Lexington Realty Trust and gave the company a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.63.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.61 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. Analysts predict that Lexington Realty Trust will post 0.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.102 dividend. This represents a $0.41 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Friday, September 27th. Lexington Realty Trust’s dividend payout ratio is currently 42.71%.
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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