Lexington Realty Trust (NYSE:LXP) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

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. “

Several other research firms have also recently issued reports on LXP. Wells Fargo & Co cut Lexington Realty Trust from an outperform rating to a market perform rating and set a $10.50 price objective on the stock. in a research report on Monday, August 26th. Stifel Nicolaus raised Lexington Realty Trust from a hold rating to a buy rating and upped their price objective for the company from $9.50 to $11.00 in a research report on Wednesday, August 7th. Finally, Evercore ISI set a $10.00 price objective on Lexington Realty Trust and gave the company a buy rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $10.63.

Shares of Lexington Realty Trust stock traded up $0.01 during midday trading on Friday, hitting $10.93. The company had a trading volume of 2,688,929 shares, compared to its average volume of 1,743,401. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a market capitalization of $2.71 billion, a P/E ratio of 11.39, a P/E/G ratio of -21.19 and a beta of 0.84. The company has a 50 day moving average of $10.60 and a 200 day moving average of $9.93. Lexington Realty Trust has a 52-week low of $7.88 and a 52-week high of $10.98.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.39. The company had revenue of $81.55 million for the quarter, compared to the consensus estimate of $79.80 million. Lexington Realty Trust had a return on equity of 16.76% and a net margin of 66.66%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts forecast that Lexington Realty Trust will post 0.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 3.84%. Lexington Realty Trust’s dividend payout ratio is 42.71%.

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in Lexington Realty Trust by 105.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,181 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,629 shares in the last quarter. Bridger Capital Management LLC bought a new position in shares of Lexington Realty Trust during the 3rd quarter valued at $75,000. Point72 Asset Management L.P. bought a new position in shares of Lexington Realty Trust during the 2nd quarter valued at $85,000. Allianz Asset Management GmbH bought a new position in shares of Lexington Realty Trust during the 2nd quarter valued at $97,000. Finally, Holocene Advisors LP bought a new position in shares of Lexington Realty Trust during the 2nd quarter valued at $97,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Lexington Realty Trust Company Profile

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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