Lexington Realty Trust (NYSE:LXP) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $11.00 price target on the real estate investment trust’s stock.

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

Shares of NYSE:LXP opened at $10.10 on Thursday. Lexington Realty Trust has a 52-week low of $7.66 and a 52-week high of $10.67. The stock has a market cap of $2.37 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of -19.57 and a beta of 0.88. The business’s 50 day moving average is $10.13 and its 200 day moving average is $9.47. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.42.

Lexington Realty Trust (NYSE:LXP) last posted its earnings results 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. The company had revenue of $80.10 million during the quarter, compared to analyst estimates of $79.61 million. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. Lexington Realty Trust’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts anticipate that Lexington Realty Trust will post 0.79 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Lexington Realty Trust by 2.4% during the second quarter. Vanguard Group Inc. now owns 39,226,206 shares of the real estate investment trust’s stock worth $369,118,000 after buying an additional 912,848 shares during the period. LSV Asset Management lifted its holdings in Lexington Realty Trust by 1.0% during the second quarter. LSV Asset Management now owns 11,574,463 shares of the real estate investment trust’s stock worth $108,915,000 after buying an additional 114,954 shares during the period. JPMorgan Chase & Co. lifted its holdings in Lexington Realty Trust by 433.4% during the first quarter. JPMorgan Chase & Co. now owns 4,232,107 shares of the real estate investment trust’s stock worth $38,342,000 after buying an additional 3,438,659 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lexington Realty Trust by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,093,184 shares of the real estate investment trust’s stock valued at $38,517,000 after purchasing an additional 330,716 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Lexington Realty Trust by 12.6% during the 2nd quarter. Northern Trust Corp now owns 4,085,369 shares of the real estate investment trust’s stock valued at $38,443,000 after purchasing an additional 458,159 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.

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.

Featured Article: What is the Dividend Aristocrat Index?

Get a free copy of the Zacks research report on Lexington Realty Trust (LXP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.