Wall Street brokerages predict that Lexington Realty Trust (NYSE:LXP) will announce sales of $98.19 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lexington Realty Trust’s earnings, with estimates ranging from $91.41 million to $104.94 million. Lexington Realty Trust posted sales of $95.33 million in the same quarter last year, which suggests a positive year over year growth rate of 3%. The business is expected to announce its next earnings results before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Lexington Realty Trust will report full year sales of $98.19 million for the current fiscal year, with estimates ranging from $357.33 million to $394.41 million. For the next fiscal year, analysts anticipate that the firm will post sales of $398.28 million per share, with estimates ranging from $368.96 million to $435.94 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Lexington Realty Trust.
Several brokerages recently weighed in on LXP. Zacks Investment Research lowered Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Evercore ISI lowered Lexington Realty Trust from an “outperform” rating to an “in-line” rating in a research note on Monday, December 11th. ValuEngine lowered Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research note on Tuesday, November 28th. Finally, Jefferies Group restated a “hold” rating and issued a $11.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.95.
Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in Lexington Realty Trust during the 4th quarter worth approximately $10,703,000. BlackRock Inc. increased its stake in Lexington Realty Trust by 2.4% during the 4th quarter. BlackRock Inc. now owns 33,079,860 shares of the real estate investment trust’s stock worth $319,220,000 after buying an additional 766,223 shares in the last quarter. American Century Companies Inc. increased its stake in Lexington Realty Trust by 35.6% during the 3rd quarter. American Century Companies Inc. now owns 2,261,255 shares of the real estate investment trust’s stock worth $23,110,000 after buying an additional 593,604 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Lexington Realty Trust during the 4th quarter worth approximately $3,670,000. Finally, Deutsche Bank AG increased its stake in Lexington Realty Trust by 73.9% during the 4th quarter. Deutsche Bank AG now owns 796,150 shares of the real estate investment trust’s stock worth $7,679,000 after buying an additional 338,436 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
Shares of Lexington Realty Trust (NYSE:LXP) traded up $0.13 during trading on Tuesday, hitting $8.38. The company had a trading volume of 1,754,760 shares, compared to its average volume of 1,108,559. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.73. Lexington Realty Trust has a 1 year low of $7.98 and a 1 year high of $11.42. The stock has a market cap of $1,963.65, a price-to-earnings ratio of 30.56, a PEG ratio of 2.02 and a beta of 0.85.
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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.
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