Lexington Realty Trust (LXP) Stake Boosted by Ameriprise Financial Inc.
Ameriprise Financial Inc. grew its position in shares of Lexington Realty Trust (NYSE:LXP) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,154,622 shares of the real estate investment trust’s stock after acquiring an additional 257,994 shares during the period. Ameriprise Financial Inc. owned about 0.90% of Lexington Realty Trust worth $21,361,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. GW&K Investment Management LLC bought a new position in shares of Lexington Realty Trust during the second quarter valued at about $118,000. Piedmont Investment Advisors LLC purchased a new position in shares of Lexington Realty Trust during the first quarter valued at about $129,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Lexington Realty Trust by 5.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 737 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of 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 buying an additional 100 shares during the period. Finally, Riverhead Capital Management LLC increased its position in shares of 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 buying an additional 6,384 shares during the period. 72.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 10.22 on Friday. The firm has a 50-day moving average of $9.90 and a 200-day moving average of $10.00. The stock has a market cap of $2.46 billion, a PE ratio of 75.70 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 results on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the 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 $95.70 million during the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities research analysts expect that Lexington Realty Trust will post $0.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 6.85%. Lexington Realty Trust’s dividend payout ratio is currently 500.00%.
In other news, CEO T Wilson Eglin sold 24,170 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $21,810,092.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.
Several equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, August 3rd. DA Davidson assumed 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 on the stock. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Sunday, September 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Two investment 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.63.
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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