Lexington Realty Trust (NYSE:LXP) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. They currently have $11.00 target price on the real estate investment trust’s stock.

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. “

Separately, Stifel Nicolaus upgraded shares of Lexington Realty Trust from a sell rating to a hold rating and set a $9.15 price target for the company in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $9.54.

Shares of LXP stock opened at $9.35 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.37. Lexington Realty Trust has a fifty-two week low of $7.66 and a fifty-two week high of $9.96. The firm has a market capitalization of $2.26 billion, a PE ratio of 9.74, a P/E/G ratio of -18.89 and a beta of 0.88. The company has a 50 day simple moving average of $9.58.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.10). Lexington Realty Trust had a return on equity of 21.72% and a net margin of 72.14%. The firm had revenue of $81.25 million for the quarter, compared to analyst estimates of $80.70 million. During the same quarter last year, the firm earned $0.25 EPS. The company’s revenue was down 21.0% on a year-over-year basis. Equities analysts forecast that Lexington Realty Trust will post 0.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.102 per share. This represents a $0.41 annualized dividend and a yield of 4.36%. The ex-dividend date was Thursday, June 27th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 42.71%.

In other news, EVP Joseph Bonventre sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $9.30, for a total transaction of $186,000.00. Following the completion of the sale, the executive vice president now owns 362,103 shares in the company, valued at approximately $3,367,557.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.26% of the company’s stock.

Several large investors have recently modified their holdings of the company. CWM Advisors LLC lifted its position in shares of Lexington Realty Trust by 8.4% during the 2nd quarter. CWM Advisors LLC now owns 17,961 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 1,395 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Lexington Realty Trust by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 82,841 shares of the real estate investment trust’s stock valued at $780,000 after purchasing an additional 1,400 shares during the last quarter. Arizona State Retirement System raised its position in Lexington Realty Trust by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 324,254 shares of the real estate investment trust’s stock valued at $3,051,000 after purchasing an additional 1,599 shares during the last quarter. Mason Street Advisors LLC raised its position in Lexington Realty Trust by 2.9% in the 1st quarter. Mason Street Advisors LLC now owns 67,173 shares of the real estate investment trust’s stock valued at $609,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in Lexington Realty Trust by 5.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 52,652 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 2,579 shares during the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.

About Lexington Realty Trust

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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