Lexington Realty Trust (LXP) Lowered to Sell at BidaskClub
BidaskClub lowered shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a sell rating in a research note released on Friday morning.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Lexington Realty Trust from a sell rating to a hold rating in a report on Wednesday, April 5th. Ladenburg Thalmann Financial Services restated a hold rating on shares of Lexington Realty Trust in a research note on Thursday, May 18th. Stifel Nicolaus restated a hold rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Jefferies Group LLC restated a hold rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Finally, Evercore ISI upgraded Lexington Realty Trust from an in-line rating to an outperform rating and set a $11.00 price objective for the company in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Lexington Realty Trust has an average rating of Hold and a consensus target price of $10.50.
Lexington Realty Trust (NYSE LXP) traded up 0.20% during midday trading on Friday, hitting $10.20. 75,057 shares of the stock traded hands. The stock has a market cap of $2.45 billion, a PE ratio of 30.18 and a beta of 0.96. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42. The company has a 50-day moving average of $10.10 and a 200-day moving average of $10.25.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.01. The business had revenue of $96.10 million during the quarter, compared to analyst estimates of $94.72 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. Lexington Realty Trust’s revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. On average, equities research analysts anticipate that Lexington Realty Trust will post $0.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Wednesday, June 28th. Lexington Realty Trust’s payout ratio is 218.76%.
In other news, Chairman E Robert Roskind sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $9.54, for a total value of $667,800.00. Following the completion of the transaction, the chairman now directly owns 792,435 shares in the company, valued at $7,559,829.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph Bonventre sold 135,298 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $10.13, for a total value of $1,370,568.74. Following the completion of the transaction, the executive vice president now owns 360,709 shares of the company’s stock, valued at $3,653,982.17. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of Lexington Realty Trust during the fourth quarter valued at about $1,288,000. Norges Bank bought a new position in shares of Lexington Realty Trust during the fourth quarter valued at $26,259,000. Teachers Advisors LLC boosted its position in shares of Lexington Realty Trust by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 383,869 shares of the real estate investment trust’s stock valued at $4,146,000 after buying an additional 15,305 shares in the last quarter. Foundry Partners LLC boosted its position in shares of Lexington Realty Trust by 2,123.0% in the first quarter. Foundry Partners LLC now owns 926,895 shares of the real estate investment trust’s stock valued at $9,250,000 after buying an additional 885,199 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Lexington Realty Trust during the first quarter valued at $4,454,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
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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