Lexington Realty Trust (LXP) Stock Price Down 2.2%
Lexington Realty Trust (NYSE:LXP)’s share price was down 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 equities analysts have recently weighed in on LXP shares. Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Ladenburg Thalmann downgraded Lexington Realty Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, May 19th. Jefferies Group downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Tuesday, July 19th. Evercore ISI downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating and boosted their target price for the stock from $9.75 to $10.00 in a research note on Monday, June 13th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Lexington Realty Trust has a consensus rating of “Hold” and a consensus price target of $10.00.
The company’s 50-day moving average is $10.63 and its 200-day moving average is $9.29. The stock has a market cap of $2.50 billion and a price-to-earnings ratio of 20.45.
Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company earned $109.60 million during the quarter, compared to analysts’ expectations of $103.72 million. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Lexington Realty Trust will post $1.09 EPS for the current year.
In related news, CAO Beth Boulerice sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $9.60, for a total value of $71,040.00. Following the sale, the chief accounting officer now owns 190,617 shares in the company, valued at $1,829,923.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO T Wilson Eglin sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $9.78, for a total transaction of $489,000.00. Following the completion of the sale, the chief executive officer now owns 2,155,854 shares in the company, valued at approximately $21,084,252.12. 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. raised its stake in Lexington Realty Trust (NYSE:LXP) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 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.
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