Meeder Asset Management Inc. boosted its position in Lexington Realty Trust (NYSE:LXP) by 997.1% during the second quarter, Holdings Channel reports. The firm owned 36,205 shares of the real estate investment trust’s stock after buying an additional 32,905 shares during the period. Meeder Asset Management Inc.’s holdings in Lexington Realty Trust were worth $366,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Lexington Realty Trust by 0.8% in the first quarter. BlackRock Fund Advisors now owns 14,441,146 shares of the real estate investment trust’s stock worth $124,194,000 after buying an additional 121,692 shares during the period. State Street Corp increased its stake in shares of Lexington Realty Trust by 1.3% in the first quarter. State Street Corp now owns 4,579,420 shares of the real estate investment trust’s stock worth $39,383,000 after buying an additional 59,296 shares during the period. Renaissance Technologies LLC increased its stake in shares of Lexington Realty Trust by 13.3% in the first quarter. Renaissance Technologies LLC now owns 2,395,131 shares of the real estate investment trust’s stock worth $20,598,000 after buying an additional 281,549 shares during the period. Norges Bank purchased a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $17,270,000. Finally, BlackRock Group LTD increased its stake in shares of Lexington Realty Trust by 0.4% in the first quarter. BlackRock Group LTD now owns 1,861,712 shares of the real estate investment trust’s stock worth $16,011,000 after buying an additional 8,261 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) traded up 0.47% during midday trading on Friday, hitting $10.71. 862,457 shares of the company traded hands. The stock has a 50 day moving average price of $10.60 and a 200-day moving average price of $9.70. Lexington Realty Trust has a 12-month low of $6.52 and a 12-month high of $11.02. The company has a market cap of $2.54 billion, a PE ratio of 20.76 and a beta of 1.18.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. The company earned $109.60 million during the quarter, compared to the consensus estimate of $103.72 million. During the same period in the prior year, the company earned $0.27 EPS. Lexington Realty Trust’s revenue was down .6% on a year-over-year basis. Analysts expect that Lexington Realty Trust will post $1.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 6.54%. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, September 28th. Lexington Realty Trust’s dividend payout ratio is presently 130.77%.
A number of equities research analysts have recently commented on LXP shares. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Barclays PLC reiterated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a report on Tuesday, August 16th. Jefferies Group reiterated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday, August 10th. Finally, Evercore ISI cut shares of Lexington Realty Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from $9.75 to $10.00 in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $10.25.
In other Lexington Realty Trust news, Vice Chairman Richard J. Rouse sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the sale, the insider now directly owns 628,648 shares of the company’s stock, valued at approximately $6,726,533.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by company insiders.
About Lexington Realty Trust
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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