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. “
A number of other brokerages also recently weighed in on LXP. Stifel Nicolaus downgraded Lexington Realty Trust from a buy rating to a hold rating and decreased their price target for the stock from $11.50 to $10.50 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Lexington Realty Trust from $10.00 to $11.00 and gave the stock a neutral rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $10.60.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.39. Lexington Realty Trust had a return on equity of 16.76% and a net margin of 66.66%. The firm had revenue of $81.55 million during the quarter, compared to the consensus estimate of $79.80 million. During the same period last year, the business posted $0.24 EPS. The business’s revenue was down 18.7% compared to the same quarter last year. Equities research analysts forecast that Lexington Realty Trust will post 0.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.105 dividend. The ex-dividend date of this dividend was Monday, December 30th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 3.85%. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 43.75%.
In other news, EVP Lara Sweeney Johnson sold 28,271 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $11.12, for a total value of $314,373.52. Following the completion of the sale, the executive vice president now directly owns 370,684 shares in the company, valued at approximately $4,122,006.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.26% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Lexington Realty Trust by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 39,226,206 shares of the real estate investment trust’s stock valued at $369,118,000 after buying an additional 912,848 shares during the period. State Street Corp grew its stake in shares of Lexington Realty Trust by 5.2% in the 3rd quarter. State Street Corp now owns 10,259,765 shares of the real estate investment trust’s stock valued at $106,202,000 after buying an additional 510,235 shares during the period. Macquarie Group Ltd. grew its stake in shares of Lexington Realty Trust by 3.1% in the 2nd quarter. Macquarie Group Ltd. now owns 5,889,351 shares of the real estate investment trust’s stock valued at $55,419,000 after buying an additional 176,646 shares during the period. Northern Trust Corp grew its stake in shares of Lexington Realty Trust by 12.6% in the 2nd quarter. Northern Trust Corp now owns 4,085,369 shares of the real estate investment trust’s stock valued at $38,443,000 after buying an additional 458,159 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Lexington Realty Trust by 7.9% in the 2nd quarter. Invesco Ltd. now owns 3,004,210 shares of the real estate investment trust’s stock valued at $28,269,000 after buying an additional 220,315 shares during the period. Institutional investors own 87.63% of the company’s stock.
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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