BidaskClub Upgrades Lexington Realty Trust (NYSE:LXP) to Hold
Lexington Realty Trust (NYSE:LXP) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 18th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price target on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Finally, Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $10.60.
Shares of Lexington Realty Trust (LXP) traded down 0.69% during mid-day trading on Friday, hitting $10.10. The stock had a trading volume of 187,648 shares. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 29.88 and a beta of 0.96. Lexington Realty Trust has a 12-month low of $9.00 and a 12-month high of $11.42. The stock’s 50-day moving average price is $10.10 and its 200-day moving average price is $10.25.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $96.10 million during the quarter, compared to analyst estimates of $94.72 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. Lexington Realty Trust’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities analysts anticipate that Lexington Realty Trust will post $0.35 EPS for the current fiscal year.
In other news, EVP Joseph Bonventre sold 135,298 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $10.13, for a total value of $1,370,568.74. Following the sale, the executive vice president now directly owns 360,709 shares of the company’s stock, valued at approximately $3,653,982.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman E Robert Roskind sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $9.54, for a total transaction of $667,800.00. Following the completion of the sale, the chairman now directly owns 792,435 shares in the company, valued at $7,559,829.90. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Elkfork Partners LLC increased its stake in Lexington Realty Trust by 19.0% in the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,876 shares during the period. GW&K Investment Management LLC purchased a new stake in Lexington Realty Trust during the second quarter worth $118,000. Piedmont Investment Advisors LLC purchased a new stake in Lexington Realty Trust during the first quarter worth $129,000. James Investment Research Inc. purchased a new stake in Lexington Realty Trust during the first quarter worth $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lexington Realty Trust by 5.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 737 shares during the period. 72.11% of the stock is currently owned by institutional investors.
About Lexington Realty Trust
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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