Lexington Realty Trust (LXP) Receives $10.55 Average Target Price from Brokerages
Lexington Realty Trust (NYSE:LXP) has been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.55.
A number of analysts have recently issued reports on LXP shares. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, October 26th. BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. KeyCorp reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research note on Sunday, September 24th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Finally, 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.
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A number of hedge funds have recently added to or reduced their stakes in LXP. Adviser Investments LLC bought a new position in Lexington Realty Trust during the third quarter valued at $109,000. GW&K Investment Management LLC bought a new position in Lexington Realty Trust during the second quarter valued at $118,000. Tocqueville Asset Management L.P. lifted its position in Lexington Realty Trust by 0.7% during the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 100 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Lexington Realty Trust by 86.3% during the second quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 6,384 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of Lexington Realty Trust by 1.0% in the 2nd quarter. World Asset Management Inc now owns 14,014 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.
Shares of Lexington Realty Trust (NYSE:LXP) traded down $0.05 during midday trading on Friday, hitting $10.46. 636,400 shares of the stock were exchanged, compared to its average volume of 1,091,370. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2,529.17, a PE ratio of 11.06, a PEG ratio of 2.74 and a beta of 0.95. Lexington Realty Trust has a 1 year low of $9.00 and a 1 year high of $11.42.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $97.71 million. Lexington Realty Trust had a net margin of 17.96% and a return on equity of 5.29%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. sell-side analysts expect that Lexington Realty Trust will post 0.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.1775 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.71 annualized dividend and a yield of 6.79%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio (DPR) is 259.26%.
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.
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