Zacks: Brokerages Expect Lexington Realty Trust (LXP) Will Announce Earnings of $0.25 Per Share
Analysts forecast that Lexington Realty Trust (NYSE:LXP) will report earnings of $0.25 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Lexington Realty Trust’s earnings, with estimates ranging from $0.25 to $0.26. Lexington Realty Trust reported earnings of $0.06 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 316.7%. The company is expected to announce its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Lexington Realty Trust will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.94 to $0.96. For the next fiscal year, analysts expect that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.98 to $1.03. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Lexington Realty Trust had a net margin of 17.96% and a return on equity of 5.29%. The company had revenue of $97.70 million during the quarter, compared to the consensus estimate of $97.71 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was down 8.1% compared to the same quarter last year.
A number of equities research analysts have issued reports on the stock. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Tuesday, November 28th. Zacks Investment Research downgraded shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Jefferies Group reiterated a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research report on Tuesday, October 24th. DA Davidson assumed coverage on shares of Lexington Realty Trust in a report on Monday, September 25th. They set a “neutral” rating and a $10.75 price target on the stock. Finally, KeyCorp restated a “hold” rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.79.
Several institutional investors have recently added to or reduced their stakes in LXP. Vanguard Group Inc. grew its stake in Lexington Realty Trust by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock valued at $395,874,000 after buying an additional 251,811 shares during the last quarter. State Street Corp grew its stake in Lexington Realty Trust by 2.3% in the 2nd quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock valued at $63,887,000 after buying an additional 143,909 shares during the last quarter. Macquarie Group Ltd. grew its stake in Lexington Realty Trust by 6.3% in the 3rd quarter. Macquarie Group Ltd. now owns 5,633,077 shares of the real estate investment trust’s stock valued at $57,570,000 after buying an additional 332,341 shares during the last quarter. Northern Trust Corp grew its stake in Lexington Realty Trust by 6.4% in the 2nd quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock valued at $39,939,000 after buying an additional 243,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Lexington Realty Trust by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,229,731 shares of the real estate investment trust’s stock valued at $33,008,000 after buying an additional 48,977 shares during the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.
Lexington Realty Trust (NYSE LXP) traded up $0.01 during mid-day trading on Tuesday, reaching $10.25. 730,047 shares of the company’s stock were exchanged, compared to its average volume of 1,071,168. Lexington Realty Trust has a 12 month low of $9.00 and a 12 month high of $11.42. 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 cap of $2,460.00, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 2.67 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.1775 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.93%. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 241.38%.
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About Lexington Realty Trust
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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