$102.79 Million in Sales Expected for Lexington Realty Trust (LXP) This Quarter

Brokerages forecast that Lexington Realty Trust (NYSE:LXP) will report sales of $102.79 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Lexington Realty Trust’s earnings, with the highest sales estimate coming in at $103.31 million and the lowest estimate coming in at $102.00 million. Lexington Realty Trust reported sales of $95.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The company is expected to announce its next earnings results on Tuesday, August 14th.

On average, analysts expect that Lexington Realty Trust will report full year sales of $404.55 million for the current fiscal year, with estimates ranging from $390.00 million to $412.97 million. For the next year, analysts expect that the business will post sales of $400.77 million per share, with estimates ranging from $369.00 million to $426.40 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lexington Realty Trust.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings results on Tuesday, May 8th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.32). The company had revenue of $102.60 million during the quarter, compared to the consensus estimate of $101.02 million. Lexington Realty Trust had a net margin of 7.33% and a return on equity of 2.34%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS.

A number of brokerages have recently commented on LXP. ValuEngine cut shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus cut shares of Lexington Realty Trust from a “hold” rating to a “sell” rating and dropped their target price for the company from $8.50 to $7.00 in a report on Tuesday, May 8th. Wells Fargo dropped 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 report on Monday, March 19th. Finally, Barclays dropped 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 report on Tuesday, March 20th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $9.84.

Shares of LXP stock traded down $0.15 during mid-day trading on Wednesday, reaching $8.17. 1,653,902 shares of the company’s stock traded hands, compared to its average volume of 1,184,283. Lexington Realty Trust has a 12 month low of $8.12 and a 12 month high of $8.32. The stock has a market cap of $2.00 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.70.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were issued a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 8.69%. The ex-dividend date of this dividend was Wednesday, March 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 73.20%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Lexington Realty Trust by 5.1% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 133,200 shares of the real estate investment trust’s stock worth $1,048,000 after purchasing an additional 6,500 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Lexington Realty Trust by 1.7% in the 4th quarter. Teachers Advisors LLC now owns 390,503 shares of the real estate investment trust’s stock worth $3,768,000 after purchasing an additional 6,518 shares during the last quarter. Swiss National Bank raised its position in shares of Lexington Realty Trust by 2.2% in the 1st quarter. Swiss National Bank now owns 377,100 shares of the real estate investment trust’s stock worth $2,968,000 after purchasing an additional 8,200 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Lexington Realty Trust by 26.3% in the 4th quarter. Meadow Creek Investment Management LLC now owns 41,582 shares of the real estate investment trust’s stock worth $401,000 after purchasing an additional 8,670 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Lexington Realty Trust by 3.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 298,205 shares of the real estate investment trust’s stock worth $2,350,000 after purchasing an additional 8,833 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

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Earnings History and Estimates for Lexington Realty Trust (NYSE:LXP)

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