Lexington Realty Trust (LXP) Research Coverage Started at DA Davidson
Research analysts at DA Davidson began coverage on shares of Lexington Realty Trust (NYSE:LXP) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “neutral” rating and a $10.75 price target on the real estate investment trust’s stock. DA Davidson’s price target would suggest a potential upside of 6.54% from the stock’s previous close.
A number of other research analysts also recently weighed in on LXP. BidaskClub upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a report on Friday, June 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a report on Thursday, July 6th. Zacks Investment Research upgraded Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, August 3rd. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.63.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 $95.70 million for the quarter, compared to analysts’ expectations of $95.41 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The business’s quarterly revenue was down 12.7% compared to the same quarter last year.
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In other Lexington Realty Trust news, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $9.81, for a total value of $237,107.70. Following the transaction, the chief executive officer now owns 2,223,251 shares in the company, valued at $21,810,092.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of LXP. BlackRock Inc. grew its stake in Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock valued at $319,155,000 after purchasing an additional 31,619,409 shares in the last quarter. Denver Investment Advisors LLC purchased a new position in Lexington Realty Trust in the second quarter valued at about $17,700,000. Vanguard Group Inc. grew its stake in Lexington Realty Trust by 3.1% in the first quarter. Vanguard Group Inc. now owns 39,695,075 shares of the real estate investment trust’s stock valued at $396,156,000 after purchasing an additional 1,204,191 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Lexington Realty Trust by 49.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,684,423 shares of the real estate investment trust’s stock valued at $26,603,000 after purchasing an additional 892,164 shares in the last quarter. Finally, State Street Corp grew its stake in Lexington Realty Trust by 8.1% in the first quarter. State Street Corp now owns 6,302,258 shares of the real estate investment trust’s stock valued at $62,902,000 after purchasing an additional 472,738 shares in the last quarter. Hedge funds and other institutional investors own 72.14% 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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