Lexington Realty Trust (LXP) Trading Down 2.2%
Shares of Lexington Realty Trust (NYSE:LXP) fell 2.2% on Friday . The company traded as low as $10.51 and last traded at $10.55, with a volume of 1,515,707 shares. The stock had previously closed at $10.79.
A number of brokerages recently weighed in on LXP. Barclays PLC reaffirmed a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Tuesday, August 16th. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Jefferies Group reaffirmed a “neutral” rating on shares of Lexington Realty Trust in a research report on Wednesday, August 10th. Evercore ISI cut shares of Lexington Realty Trust from a “buy” rating to a “hold” rating and upped their price target for the stock from $9.75 to $10.00 in a research report on Monday, June 13th. Finally, Ladenburg Thalmann cut shares of Lexington Realty Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.00.
The stock has a market capitalization of $2.50 billion and a P/E ratio of 20.45. The firm’s 50-day moving average price is $10.63 and its 200-day moving average price is $9.29.
Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. During the same quarter in the previous year, the company earned $0.27 EPS. The company earned $109.60 million during the quarter, compared to analysts’ expectations of $103.72 million. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that Lexington Realty Trust will post $1.09 earnings per share for the current year.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 25,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.70, for a total value of $267,500.00. Following the completion of the sale, the chief executive officer now owns 2,038,528 shares in the company, valued at approximately $21,812,249.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Beth Boulerice sold 7,400 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $9.60, for a total transaction of $71,040.00. Following the completion of the sale, the chief accounting officer now owns 190,617 shares of the company’s stock, valued at approximately $1,829,923.20. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Lexington Realty Trust stock. Principal Financial Group Inc. increased its position in Lexington Realty Trust (NYSE:LXP) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,423,556 shares of the real estate investment trust’s stock after buying an additional 56,126 shares during the period. Principal Financial Group Inc. owned approximately 0.60% of Lexington Realty Trust worth $11,388,000 at the end of the most recent quarter.
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.