Systematic Financial Management LP Acquires 190,399 Shares of Lexington Realty Trust (LXP)
Systematic Financial Management LP raised its stake in shares of Lexington Realty Trust (NYSE:LXP) by 21.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,088,135 shares of the real estate investment trust’s stock after buying an additional 190,399 shares during the period. Systematic Financial Management LP’s holdings in Lexington Realty Trust were worth $11,752,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Lexington Realty Trust by 9.4% in the third quarter. BlackRock Fund Advisors now owns 16,976,534 shares of the real estate investment trust’s stock valued at $174,858,000 after buying an additional 1,460,244 shares during the period. Gradient Investments LLC acquired a new stake in Lexington Realty Trust during the third quarter valued at approximately $4,529,000. Chicago Equity Partners LLC increased its stake in Lexington Realty Trust by 207.3% in the third quarter. Chicago Equity Partners LLC now owns 633,280 shares of the real estate investment trust’s stock valued at $6,523,000 after buying an additional 427,190 shares during the period. Matarin Capital Management LLC acquired a new stake in Lexington Realty Trust during the third quarter valued at approximately $3,828,000. Finally, Calvert Investment Management Inc. acquired a new stake in Lexington Realty Trust during the second quarter valued at approximately $3,743,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.
Lexington Realty Trust (NYSE:LXP) traded down 0.762% during trading on Friday, reaching $11.075. 425,875 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 26.182 and a beta of 0.94. Lexington Realty Trust has a 52 week low of $7.08 and a 52 week high of $11.25. The stock has a 50-day moving average price of $10.84 and a 200 day moving average price of $10.47.
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LXP has been the topic of several recent research reports. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 2nd. Barclays PLC downgraded shares of Lexington Realty Trust from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $11.00 to $10.00 in a report on Monday, January 23rd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Lexington Realty Trust currently has an average rating of “Hold” and an average target price of $10.33.
In other Lexington Realty Trust news, EVP Joseph Bonventre sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the sale, the executive vice president now owns 356,438 shares of the company’s stock, valued at $3,742,599. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company 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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