QS Investors LLC Acquires 78,204 Shares of Lexington Realty Trust (LXP)
QS Investors LLC increased its holdings in Lexington Realty Trust (NYSE:LXP) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 562,630 shares of the real estate investment trust’s stock after purchasing an additional 78,204 shares during the period. QS Investors LLC owned approximately 0.23% of Lexington Realty Trust worth $5,576,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. GW&K Investment Management LLC bought a new stake in Lexington Realty Trust in the second quarter worth $118,000. Piedmont Investment Advisors LLC bought a new stake in Lexington Realty Trust in the first quarter worth $129,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lexington Realty Trust by 5.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 737 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in Lexington Realty Trust by 0.7% in the second 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 in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in Lexington Realty Trust by 86.3% in the second quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 6,384 shares in the last quarter. Hedge funds and other institutional investors own 72.14% of the company’s stock.
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A number of equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a 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 objective for the company in a report on Thursday, August 3rd. DA Davidson assumed coverage on shares of Lexington Realty Trust in a report on Monday, September 25th. They issued a “neutral” rating and a $10.75 price objective for the company. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Lexington Realty Trust presently has an average rating of “Hold” and an average target price of $10.63.
Shares of Lexington Realty Trust (NYSE LXP) opened at 10.22 on Friday. The firm’s 50-day moving average is $9.90 and its 200-day moving average is $10.00. The company has a market capitalization of $2.46 billion, a PE ratio of 75.70 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.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results 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 net margin of 9.80% and a return on equity of 2.92%. 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 earned $0.29 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Friday, September 29th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.70 annualized dividend and a yield of 6.85%. Lexington Realty Trust’s payout ratio is presently 500.00%.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the completion of the sale, the chief executive officer now directly owns 2,223,251 shares in the company, valued at $21,810,092.31. The sale 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.
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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