Lexington Realty Trust (NYSE:LXP) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Lexington Realty Trust (NYSE:LXP) from a buy rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “

Several other research analysts also recently commented on the company. Stifel Nicolaus upgraded Lexington Realty Trust from a hold rating to a buy rating and raised their price objective for the stock from $9.50 to $11.00 in a report on Wednesday, August 7th. Evercore ISI set a $10.00 price objective on Lexington Realty Trust and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Co downgraded Lexington Realty Trust from an outperform rating to a market perform rating and set a $10.50 price objective on the stock. in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Lexington Realty Trust has an average rating of Hold and a consensus target price of $10.63.

LXP opened at $10.48 on Wednesday. The stock’s fifty day moving average is $10.28 and its two-hundred day moving average is $9.64. The company has a market capitalization of $2.46 billion, a P/E ratio of 10.92, a PEG ratio of -20.11 and a beta of 0.85. Lexington Realty Trust has a 52 week low of $7.66 and a 52 week high of $10.67. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.42.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.61 million. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. Lexington Realty Trust’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Equities analysts anticipate that Lexington Realty Trust will post 0.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.102 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.41 annualized dividend and a yield of 3.89%. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 42.71%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in Lexington Realty Trust during the 2nd quarter valued at $85,000. Allianz Asset Management GmbH acquired a new stake in shares of Lexington Realty Trust in the 2nd quarter worth $97,000. Holocene Advisors LP acquired a new stake in shares of Lexington Realty Trust in the 2nd quarter worth $97,000. Private Advisor Group LLC acquired a new stake in shares of Lexington Realty Trust in the 2nd quarter worth $106,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Lexington Realty Trust in the 1st quarter worth $105,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Lexington Realty Trust Company Profile

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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