Dynamic Technology Lab Private Ltd Takes Position in Lexington Realty Trust (LXP)
Dynamic Technology Lab Private Ltd acquired a new stake in Lexington Realty Trust (NYSE:LXP) during the second quarter, Holdings Channel reports. The fund acquired 26,174 shares of the real estate investment trust’s stock, valued at approximately $265,000.
A number of other institutional investors have also recently bought and sold shares of LXP. World Asset Management Inc purchased a new position in Lexington Realty Trust during the second quarter valued at $108,000. Paragon Capital Management Ltd purchased a new position in Lexington Realty Trust during the second quarter valued at $116,000. Hancock Holding Co. purchased a new position in Lexington Realty Trust during the first quarter valued at $101,000. Genesee Valley Trust Co. purchased a new position in Lexington Realty Trust during the second quarter valued at $125,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Lexington Realty Trust during the first quarter valued at $131,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of Lexington Realty Trust (NYSE:LXP) opened at 10.30 on Friday. The company has a market capitalization of $2.44 billion, a PE ratio of 19.96 and a beta of 1.18. Lexington Realty Trust has a one year low of $6.52 and a one year high of $11.02. The company has a 50-day moving average of $10.58 and a 200-day moving average of $9.78.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Lexington Realty Trust had a net margin of 29.34% and a return on equity of 9.26%. The business had revenue of $109.60 million for the quarter, compared to analyst estimates of $103.72 million. During the same period in the prior year, the business posted $0.27 earnings per share. Lexington Realty Trust’s revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Lexington Realty Trust will post $1.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.175 dividend. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 6.80%. The ex-dividend date is Wednesday, September 28th. Lexington Realty Trust’s dividend payout ratio is currently 134.62%.
Several research firms have weighed in on LXP. Evercore ISI cut shares of Lexington Realty Trust from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $9.75 to $10.00 in a research report on Monday, June 13th. Zacks Investment Research cut shares of Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 26th. Jefferies Group restated a “neutral” rating on shares of Lexington Realty Trust in a report on Wednesday, August 10th. Finally, Barclays PLC restated a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.25.
In related 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 transaction, the chief executive officer now directly owns 2,038,528 shares in the company, valued at $21,812,249.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is currently owned by corporate insiders.
About Lexington Realty Trust
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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