Lexington Realty Trust (NYSE:LXP)‘s stock had its “hold” rating reiterated by analysts at KeyCorp in a note issued to investors on Tuesday.
LXP has been the topic of a number of other research reports. Evercore ISI lowered Lexington Realty Trust from a “buy” rating to a “hold” rating and increased their price target for the company from $9.75 to $10.00 in a research report on Monday, June 13th. Jefferies Group lowered Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Tuesday, July 19th. Zacks Investment Research lowered Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 26th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $10.00 price target on shares of Lexington Realty Trust in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $10.25.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 9.90 on Tuesday. The firm has a market cap of $2.35 billion, a P/E ratio of 19.19 and a beta of 1.17. Lexington Realty Trust has a 12-month low of $6.52 and a 12-month high of $11.02. The company’s 50 day moving average price is $10.37 and its 200-day moving average price is $9.85.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The firm had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. Lexington Realty Trust’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts anticipate that Lexington Realty Trust will post $1.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.07%. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. Lexington Realty Trust’s dividend payout ratio is presently 134.62%.
In related news, Vice Chairman Richard J. Rouse sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $10.70, for a total transaction of $267,500.00. Following the transaction, the insider now owns 628,648 shares in the company, valued at approximately $6,726,533.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. increased its position in Lexington Realty Trust by 32.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,375 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 12,100 shares in the last quarter. Genesee Valley Trust Co. purchased a new position in Lexington Realty Trust during the second quarter worth about $125,000. First Manhattan Co. increased its position in Lexington Realty Trust by 10.0% in the second quarter. First Manhattan Co. now owns 16,500 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 1,500 shares in the last quarter. Legal & General Group Plc increased its position in Lexington Realty Trust by 4.1% in the first quarter. Legal & General Group Plc now owns 552,567 shares of the real estate investment trust’s stock worth $4,750,000 after buying an additional 21,801 shares in the last quarter. Finally, Hancock Holding Co. purchased a new position in Lexington Realty Trust during the first quarter worth about $101,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
About Lexington Realty Trust