Lexington Realty Trust (LXP) Position Lowered by Alliancebernstein L.P.
Alliancebernstein L.P. decreased its holdings in Lexington Realty Trust (NYSE:LXP) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 451,719 shares of the real estate investment trust’s stock after selling 31,731 shares during the quarter. Alliancebernstein L.P. owned approximately 0.19% of Lexington Realty Trust worth $4,477,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC purchased a new position in Lexington Realty Trust in the second quarter valued at about $118,000. Piedmont Investment Advisors LLC acquired a new stake in Lexington Realty Trust during the 1st quarter valued at approximately $129,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lexington Realty Trust by 5.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 737 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in Lexington Realty Trust by 0.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 100 shares during the last quarter. Finally, World Asset Management Inc increased its holdings in Lexington Realty Trust by 1.8% during the 1st quarter. World Asset Management Inc now owns 13,870 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.
Shares of Lexington Realty Trust (NYSE LXP) opened at 10.42 on Wednesday. The company has a 50-day moving average price of $9.98 and a 200 day moving average price of $10.01. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 77.19 and a beta of 0.96. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, analysts forecast that Lexington Realty Trust will post $0.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Thursday, September 28th. Lexington Realty Trust’s payout ratio is presently 500.00%.
In related news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $9.81, for a total transaction of $237,107.70. Following the sale, the chief executive officer now directly owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.
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A number of equities analysts have issued reports on LXP shares. BidaskClub raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. DA Davidson started coverage on shares of Lexington Realty Trust in a research report on Monday, September 25th. They set a “neutral” rating and a $10.75 price target for the company. KeyCorp reissued a “hold” rating on shares of Lexington Realty Trust in a research report on Sunday, September 24th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, August 17th. Finally, Zacks Investment Research upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Lexington Realty Trust presently has an average rating of “Hold” and an average target price of $10.63.
Lexington Realty Trust 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.
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