Zacks: Analysts Anticipate Lexington Realty Trust (NYSE:LXP) Will Announce Quarterly Sales of $78.96 Million
Equities research analysts expect Lexington Realty Trust (NYSE:LXP) to post sales of $78.96 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Lexington Realty Trust’s earnings, with estimates ranging from $78.24 million to $79.80 million. Lexington Realty Trust reported sales of $99.96 million during the same quarter last year, which indicates a negative year over year growth rate of 21%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Lexington Realty Trust will report full year sales of $313.93 million for the current year, with estimates ranging from $304.00 million to $318.41 million. For the next financial year, analysts expect that the firm will report sales of $311.88 million, with estimates ranging from $306.67 million to $318.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.61 million. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The firm’s revenue was down 24.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS.
Shares of Lexington Realty Trust stock traded down $0.01 during midday trading on Wednesday, hitting $10.28. 2,531,000 shares of the company traded hands, compared to its average volume of 1,662,771. The stock has a market capitalization of $2.41 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of -20.04 and a beta of 0.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.13 and a current ratio of 0.13. The business has a fifty day simple moving average of $9.66. Lexington Realty Trust has a 12 month low of $7.66 and a 12 month high of $10.34.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.102 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 3.97%. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 42.71%.
In related news, EVP Joseph Bonventre sold 20,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $9.30, for a total transaction of $186,000.00. Following the transaction, the executive vice president now owns 362,103 shares in the company, valued at approximately $3,367,557.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.26% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Bremer Bank National Association acquired a new position in shares of Lexington Realty Trust during the 1st quarter valued at $37,000. Point72 Asset Management L.P. acquired a new position in shares of Lexington Realty Trust during the 2nd quarter valued at $85,000. Quadrant Capital Group LLC lifted its position in shares of Lexington Realty Trust by 842.1% during the 1st quarter. Quadrant Capital Group LLC now owns 10,325 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 9,229 shares during the period. Allianz Asset Management GmbH bought a new stake in Lexington Realty Trust during the 2nd quarter valued at $97,000. Finally, Holocene Advisors LP bought a new stake in Lexington Realty Trust during the 2nd quarter valued at $97,000. Institutional investors own 86.07% of the company’s stock.
About Lexington Realty Trust
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased commercial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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