Lexington Realty Trust (NYSE:LXP) Receives $9.38 Average PT from Analysts

Shares of Lexington Realty Trust (NYSE:LXP) have received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $9.38.

LXP has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Stifel Nicolaus set a $14.00 price objective on shares of Roadrunner Transportation Systems and gave the stock a “hold” rating in a report on Tuesday, May 28th.

Shares of NYSE LXP traded down $0.01 during trading hours on Friday, hitting $9.51. 20,101 shares of the stock were exchanged, compared to its average volume of 1,704,834. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $9.40. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 13.72 and a beta of 0.88. Lexington Realty Trust has a one year low of $7.66 and a one year high of $9.88.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.102 per share. This represents a $0.41 annualized dividend and a yield of 4.29%. The ex-dividend date is Thursday, June 27th. Lexington Realty Trust’s payout ratio is currently 42.71%.

In related news, EVP Joseph Bonventre sold 20,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 362,103 shares in the company, valued at approximately $3,367,557.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.26% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Lexington Realty Trust by 433.4% during the 1st quarter. JPMorgan Chase & Co. now owns 4,232,107 shares of the real estate investment trust’s stock valued at $38,342,000 after purchasing an additional 3,438,659 shares during the last quarter. Stevens Capital Management LP raised its stake in Lexington Realty Trust by 178.6% during the 1st quarter. Stevens Capital Management LP now owns 46,842 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 30,028 shares during the last quarter. Two Sigma Investments LP acquired a new position in Lexington Realty Trust during the 4th quarter valued at $1,130,000. Northwood Liquid Management LP acquired a new position in Lexington Realty Trust during the 4th quarter valued at $8,280,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Lexington Realty Trust by 194.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 79,138 shares of the real estate investment trust’s stock valued at $650,000 after purchasing an additional 52,238 shares during the last quarter. Hedge funds and other institutional investors own 85.19% 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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