Genesee Valley Trust Co. purchased a new stake in Lexington Realty Trust (NYSE:LXP) during the second quarter, Holdings Channel reports. The firm purchased 12,365 shares of the real estate investment trust’s stock, valued at approximately $125,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. raised its position 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 worth $425,000 after buying an additional 12,100 shares in the last quarter. First Manhattan Co. increased its stake in shares of 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 worth $166,000 after buying an additional 1,500 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Lexington Realty Trust during the first quarter worth approximately $503,000. Legal & General Group Plc increased its stake in shares of 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 worth $4,750,000 after buying an additional 21,801 shares during the last quarter. Finally, Hancock Holding Co. acquired a new stake in shares of Lexington Realty Trust during the first quarter worth approximately $101,000. Institutional investors and hedge funds own 71.41% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) traded down 1.39% during mid-day trading on Tuesday, reaching $10.64. The company’s stock had a trading volume of 1,134,221 shares. 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 $10.62 and a 200-day moving average price of $9.75. The firm has a market cap of $2.52 billion, a PE ratio of 20.62 and a beta of 1.18.
Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. On average, equities research analysts expect that Lexington Realty Trust will post $1.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 6.58%. This is a positive change 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 (DPR) is presently 130.77%.
LXP has been the subject of a number of research analyst reports. Barclays PLC reaffirmed a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Tuesday, August 16th. Zacks Investment Research raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Jefferies Group downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research report on Tuesday, July 19th. Finally, Evercore ISI downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating and increased their price target for the company from $9.75 to $10.00 in a research report on Monday, June 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Lexington Realty Trust presently has a consensus rating of “Hold” and an average target price of $10.25.
In related news, CEO T Wilson Eglin sold 25,000 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.70, for a total transaction of $267,500.00. Following the transaction, the chief executive officer now directly owns 2,038,528 shares of the company’s stock, valued at $21,812,249.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.
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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