Lexington Realty Trust (NYSE:LXP) – Equities research analysts at KeyCorp boosted their Q3 2016 earnings per share (EPS) estimates for Lexington Realty Trust in a report released on Tuesday. KeyCorp analyst C. Mailman now expects that the brokerage will post earnings per share of $0.28 for the quarter, up from their previous forecast of $0.27. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Lexington Realty Trust’s FY2016 earnings at $1.10 EPS and FY2017 earnings at $0.97 EPS.
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.
A number of other equities analysts have also weighed in on the stock. Barclays PLC restated 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 upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Finally, Jefferies Group lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Lexington Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $10.25.
Lexington Realty Trust (NYSE:LXP) opened at 9.95 on Thursday. Lexington Realty Trust has a 12 month low of $6.52 and a 12 month high of $11.02. The stock’s 50 day moving average is $10.33 and its 200-day moving average is $9.86. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 19.28 and a beta of 1.17.
A number of institutional investors have recently bought and sold shares of the stock. AMP Capital Investors Ltd raised its position in Lexington Realty Trust by 5.8% in the first quarter. AMP Capital Investors Ltd now owns 127,637 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 7,000 shares during the last quarter. Renaissance Technologies LLC raised its position in 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 valued at $20,598,000 after buying an additional 281,549 shares during the last quarter. HBK Investments L P purchased a new position in Lexington Realty Trust during the first quarter valued at $231,000. Hancock Holding Co. purchased a new position in Lexington Realty Trust during the first quarter valued at $101,000. Finally, Lazard Asset Management LLC raised its position in Lexington Realty Trust by 0.5% in the first quarter. Lazard Asset Management LLC now owns 725,234 shares of the real estate investment trust’s stock valued at $6,237,000 after buying an additional 3,527 shares during the last quarter. Institutional investors own 71.41% of the company’s stock.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $10.70, for a total value of $267,500.00. Following the transaction, the chief executive officer now directly owns 2,038,528 shares in the company, valued at approximately $21,812,249.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by company insiders.
The company also recently announced 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 annualized dividend and a yield of 7.04%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, September 28th. Lexington Realty Trust’s payout ratio is presently 134.62%.
Lexington Realty Trust Company Profile
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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