New York State Common Retirement Fund Lowers Stake in Lexington Realty Trust (LXP)

New York State Common Retirement Fund cut its holdings in Lexington Realty Trust (NYSE:LXP) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,940 shares of the real estate investment trust’s stock after selling 5,801 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Lexington Realty Trust worth $2,705,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LXP. GW&K Investment Management LLC acquired a new stake in shares of Lexington Realty Trust in the second quarter valued at approximately $118,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Lexington Realty Trust in the first quarter valued at approximately $129,000. Tocqueville Asset Management L.P. grew its position in shares of 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 valued at $135,000 after purchasing an additional 100 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of 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 valued at $137,000 after purchasing an additional 6,384 shares during the last quarter. Finally, World Asset Management Inc grew its position in shares of Lexington Realty Trust by 1.0% in the second quarter. World Asset Management Inc now owns 14,014 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

Shares of Lexington Realty Trust (NYSE:LXP) opened at 10.38 on Monday. The stock has a 50 day moving average of $10.24 and a 200 day moving average of $10.04. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 76.89 and a beta of 0.96.

Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $95.41 million. Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The business’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. On average, analysts predict that Lexington Realty Trust will post $0.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.74%. The ex-dividend date was Thursday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 500.00%.

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In other 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 value of $237,107.70. Following the transaction, the chief executive officer now directly owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research 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 target on the stock in a research report on Thursday, August 3rd. DA Davidson assumed coverage on shares of Lexington Realty Trust in a research report on Monday, September 25th. They issued a “neutral” rating and a $10.75 price target on the stock. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Sunday, September 24th. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $10.63.

Lexington Realty Trust Company 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.

Institutional Ownership by Quarter for Lexington Realty Trust (NYSE:LXP)

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