Lexington Realty Trust (LXP) Receives $9.79 Consensus Target Price from Brokerages

Shares of Lexington Realty Trust (NYSE:LXP) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.79.

LXP has been the topic of a number of recent research reports. ValuEngine downgraded shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 3rd. Wells Fargo reduced their target price on shares of Lexington Realty Trust from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, March 19th. Barclays reduced their target price on shares of Lexington Realty Trust from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 20th. Finally, JPMorgan Chase reduced their target price on shares of Lexington Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th.

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Shares of NYSE:LXP traded up $0.04 during midday trading on Wednesday, reaching $7.86. The company’s stock had a trading volume of 244,334 shares, compared to its average volume of 1,181,568. The company has a market capitalization of $1,882.81, a PE ratio of 8.06, a P/E/G ratio of 2.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.14 and a quick ratio of 0.14. Lexington Realty Trust has a 12-month low of $7.68 and a 12-month high of $10.65.

Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The firm had revenue of $102.17 million for the quarter, compared to the consensus estimate of $100.52 million. Lexington Realty Trust had a net margin of 21.84% and a return on equity of 6.64%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. equities analysts anticipate that Lexington Realty Trust will post 0.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a $0.1775 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 9.03%. The ex-dividend date is Wednesday, March 28th. Lexington Realty Trust’s payout ratio is 73.20%.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Lexington Realty Trust by 2.4% in the 4th quarter. BlackRock Inc. now owns 33,079,860 shares of the real estate investment trust’s stock worth $319,220,000 after purchasing an additional 766,223 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Lexington Realty Trust by 0.5% in the 4th quarter. Macquarie Group Ltd. now owns 5,662,858 shares of the real estate investment trust’s stock worth $53,919,000 after purchasing an additional 29,781 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Lexington Realty Trust by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,229,731 shares of the real estate investment trust’s stock worth $33,008,000 after purchasing an additional 48,977 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Lexington Realty Trust by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,840,054 shares of the real estate investment trust’s stock worth $27,407,000 after purchasing an additional 86,353 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Lexington Realty Trust by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,835,833 shares of the real estate investment trust’s stock worth $17,715,000 after purchasing an additional 53,192 shares in the last quarter. Institutional investors own 75.01% of the company’s stock.

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About Lexington Realty Trust

Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.

Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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