Lexington Realty Trust (LXP) Announces Quarterly Earnings Results
Lexington Realty Trust (NYSE:LXP) announced its earnings results on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. The company had revenue of $97.70 million during the quarter, compared to analyst estimates of $97.71 million. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. Lexington Realty Trust’s revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. Lexington Realty Trust updated its FY17 guidance to $0.95-0.97 EPS.
Lexington Realty Trust (NYSE LXP) traded up $0.05 during midday trading on Tuesday, hitting $10.24. 560,801 shares of the stock traded hands, compared to its average volume of 830,378. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.48. Lexington Realty Trust has a twelve month low of $9.00 and a twelve month high of $11.42. The stock has a market capitalization of $2,490.00, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.66 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.1775 dividend. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.71 annualized dividend and a dividend yield of 6.93%. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 437.50%.
In other news, CEO T Wilson Eglin sold 24,170 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total value of $237,107.70. Following the completion of the transaction, the chief executive officer now owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $11.00 target price on shares of Lexington Realty Trust in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Finally, DA Davidson assumed coverage on shares of Lexington Realty Trust in a research note on Monday, September 25th. They set a “neutral” rating and a $10.75 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.79.
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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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