Lexington Realty Trust (NYSE:LXP) – Equities research analysts at KeyCorp boosted their Q3 2016 earnings per share estimates for shares of Lexington Realty Trust in a research note issued on Tuesday. KeyCorp analyst C. Mailman now anticipates that the brokerage will earn $0.28 per share for the quarter, up from their previous forecast of $0.27. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Lexington Realty Trust’s FY2016 earnings at $1.10 EPS and FY2017 earnings at $0.97 EPS.
A number of other equities analysts have also recently issued reports on LXP. Jefferies Group cut Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Tuesday, July 19th. Zacks Investment Research cut Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 26th. Finally, Barclays PLC reiterated a “hold” rating and set a $10.00 price objective on shares of Lexington Realty Trust in a report on Tuesday, August 16th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.25.
Lexington Realty Trust (NYSE:LXP) opened at 10.01 on Thursday. Lexington Realty Trust has a 12-month low of $6.52 and a 12-month high of $11.02. The company has a 50-day moving average price of $10.35 and a 200-day moving average price of $9.85. The firm has a market cap of $2.37 billion, a P/E ratio of 19.40 and a beta of 1.17.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Lexington Realty Trust had a return on equity of 9.26% and a net margin of 29.34%. The firm had revenue of $109.60 million for the quarter, compared to the consensus estimate of $103.72 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake 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 valued at $425,000 after buying an additional 12,100 shares during the last quarter. Genesee Valley Trust Co. purchased a new stake in Lexington Realty Trust during the second quarter valued at approximately $125,000. First Manhattan Co. boosted its stake 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 valued at $166,000 after buying an additional 1,500 shares during the last quarter. Legal & General Group Plc boosted its stake 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 valued at $4,750,000 after buying an additional 21,801 shares during the last quarter. Finally, Strs Ohio boosted its stake in Lexington Realty Trust by 0.4% in the second quarter. Strs Ohio now owns 430,430 shares of the real estate investment trust’s stock valued at $4,351,000 after buying an additional 1,826 shares during the last quarter. Hedge funds and other institutional investors own 71.41% of the company’s stock.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.70, for a total value of $267,500.00. Following the sale, the chief executive officer now owns 2,038,528 shares in the company, valued at approximately $21,812,249.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.175 dividend. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 annualized dividend and a yield of 6.99%. Lexington Realty Trust’s payout ratio is presently 134.62%.
About Lexington Realty Trust