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.
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