Lexington Realty Trust (NYSE:LXP) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research downgraded shares of Lexington Realty Trust (NYSE:LXP) from a buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

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. “

A number of other analysts have also weighed in on the company. Evercore ISI set a $10.00 price objective on Lexington Realty Trust and gave the stock a buy rating in a research report on Wednesday, August 7th. Wells Fargo & Co lowered Lexington Realty Trust from an outperform rating to a market perform rating and set a $10.50 price objective on the stock. in a research report on Monday, August 26th. Finally, Stifel Nicolaus raised Lexington Realty Trust from a hold rating to a buy rating and upped their price objective for the stock from $9.50 to $11.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Lexington Realty Trust has an average rating of Buy and an average target price of $10.63.

Lexington Realty Trust stock opened at $10.10 on Friday. Lexington Realty Trust has a twelve month low of $7.66 and a twelve month high of $10.67. The stock’s fifty day simple moving average is $10.13 and its 200-day simple moving average is $9.47. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.37 billion, a P/E ratio of 11.73, a P/E/G ratio of -19.57 and a beta of 0.88.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.61 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s revenue was down 24.2% on a year-over-year basis. Sell-side analysts predict that Lexington Realty Trust will post 0.79 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Profund Advisors LLC grew its stake in shares of Lexington Realty Trust by 4.3% during the second quarter. Profund Advisors LLC now owns 31,549 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 1,288 shares in the last quarter. CWM Advisors LLC grew its stake in shares of Lexington Realty Trust by 8.4% during the second quarter. CWM Advisors LLC now owns 17,961 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 1,395 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Lexington Realty Trust by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 82,841 shares of the real estate investment trust’s stock worth $780,000 after purchasing an additional 1,400 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Lexington Realty Trust by 1.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 135,000 shares of the real estate investment trust’s stock worth $1,270,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Lexington Realty Trust by 0.5% during the second quarter. Arizona State Retirement System now owns 324,254 shares of the real estate investment trust’s stock worth $3,051,000 after purchasing an additional 1,599 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Lexington Realty Trust Company Profile

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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