Brokerages expect Lexington Realty Trust (NYSE:LXP) to post $0.25 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Lexington Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.25. Lexington Realty Trust reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The company is expected to issue its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Lexington Realty Trust will report full-year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.96 to $1.00. For the next year, analysts expect that the company will report earnings of $0.96 per share, with EPS estimates ranging from $0.93 to $1.01. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $102.17 million for the quarter, compared to analysts’ expectations of $100.52 million. Lexington Realty Trust had a return on equity of 6.64% and a net margin of 21.84%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share.
LXP has been the topic of several research analyst reports. Zacks Investment Research cut Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 3rd. Wells Fargo decreased their target price on Lexington Realty Trust from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 19th. Barclays decreased their target price on Lexington Realty Trust from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, March 20th. JPMorgan Chase decreased their target price on Lexington Realty Trust from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 10th. Finally, ValuEngine cut Lexington Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.22.
Several institutional investors and hedge funds have recently modified their holdings of LXP. Millennium Management LLC acquired a new position in shares of Lexington Realty Trust during the fourth quarter valued at $10,703,000. BlackRock Inc. lifted its stake in shares of Lexington Realty Trust by 2.4% during the fourth quarter. BlackRock Inc. now owns 33,079,860 shares of the real estate investment trust’s stock valued at $319,220,000 after acquiring an additional 766,223 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Lexington Realty Trust during the fourth quarter valued at $3,670,000. Deutsche Bank AG lifted its stake in shares of Lexington Realty Trust by 73.9% during the fourth quarter. Deutsche Bank AG now owns 796,150 shares of the real estate investment trust’s stock valued at $7,679,000 after acquiring an additional 338,436 shares during the period. Finally, Clearbridge LLC lifted its stake in shares of Lexington Realty Trust by 32.3% during the fourth quarter. Clearbridge LLC now owns 1,360,290 shares of the real estate investment trust’s stock valued at $13,127,000 after acquiring an additional 331,860 shares during the period. 75.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of LXP stock opened at $7.72 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1,909.29, a PE ratio of 7.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.88. Lexington Realty Trust has a 52 week low of $7.68 and a 52 week high of $10.65.
The company also recently declared a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 9.20%. The ex-dividend date was Wednesday, March 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 73.20%.
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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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