Analysts Set Lexington Realty Trust (LXP) Price Target at $8.60
Lexington Realty Trust (NYSE:LXP) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.60.
A number of analysts have weighed in on LXP shares. Jefferies Financial Group raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, December 26th. ValuEngine raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Finally, Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $8.50 to $9.00 in a research note on Thursday, September 27th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC grew its stake in shares of Lexington Realty Trust by 858,377.0% in the third quarter. Clearbridge Investments LLC now owns 2,197,701 shares of the real estate investment trust’s stock worth $18,241,000 after purchasing an additional 2,197,445 shares during the last quarter. BlackRock Inc. grew its stake in shares of Lexington Realty Trust by 6.4% in the second quarter. BlackRock Inc. now owns 36,067,793 shares of the real estate investment trust’s stock worth $314,871,000 after purchasing an additional 2,182,275 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lexington Realty Trust in the third quarter worth $13,722,000. Mackenzie Financial Corp bought a new stake in shares of Lexington Realty Trust in the third quarter worth $7,302,000. Finally, Peregrine Capital Management LLC bought a new stake in shares of Lexington Realty Trust in the third quarter worth $5,296,000. 74.97% of the stock is currently owned by hedge funds and other institutional investors.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). The company had revenue of $99.96 million for the quarter, compared to the consensus estimate of $96.87 million. Lexington Realty Trust had a return on equity of 19.03% and a net margin of 56.75%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. As a group, sell-side analysts predict that Lexington Realty Trust will post 0.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.1775 per share. The ex-dividend date is Friday, December 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 8.11%. Lexington Realty Trust’s payout ratio is presently 73.20%.
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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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