Lexington Realty Trust (LXP) Issues FY17 Earnings Guidance
Lexington Realty Trust (NYSE:LXP) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.95-0.97 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.96.
Shares of Lexington Realty Trust (NYSE LXP) traded up $0.18 during trading hours on Tuesday, reaching $10.42. 216,959 shares of the company’s stock traded hands, compared to its average volume of 830,378. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $2,510.00, a P/E ratio of 10.40, a P/E/G ratio of 2.66 and a beta of 0.95.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The business had revenue of $97.70 million for the quarter, compared to the consensus estimate of $97.71 million. During the same period in the prior year, the business posted $0.28 earnings per share. Lexington Realty Trust’s revenue for the quarter was down 8.1% compared to the same quarter last year. analysts expect that Lexington Realty Trust will post 0.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.1775 dividend. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.71 dividend on an annualized basis and a yield of 6.81%. Lexington Realty Trust’s dividend payout ratio is currently 437.50%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lexington Realty Trust from a hold rating to a buy rating and set a $12.00 price target for the company in a report on Thursday, October 26th. BidaskClub upgraded shares of Lexington Realty Trust from a sell rating to a hold rating in a research note on Friday, August 4th. KeyCorp reiterated a hold rating on shares of Lexington Realty Trust in a research note on Sunday, September 24th. Ladenburg Thalmann Financial Services reiterated a hold rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Finally, Jefferies Group LLC reissued a hold rating and issued a $11.00 price target on shares of Lexington Realty Trust in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Lexington Realty Trust currently has a consensus rating of Hold and an average target price of $10.79.
In related 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 sale, the chief executive officer now owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Lexington Realty Trust (LXP) Issues FY17 Earnings Guidance” was reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/lexington-realty-trust-lxp-issues-fy17-earnings-guidance/1685279.html.
Lexington Realty Trust Company Profile
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.
Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with Analyst Ratings Network's FREE daily email newsletter.