Lexington Realty Trust (LXP) Set to Announce Earnings on Tuesday
Lexington Realty Trust (NYSE:LXP) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, August 8th. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Lexington Realty Trust has set its FY17 guidance at $0.94-0.98 EPS.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01. The firm had revenue of $96.10 million during the quarter, compared to the consensus estimate of $94.72 million. Lexington Realty Trust had a return on equity of 5.97% and a net margin of 19.61%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. On average, analysts expect Lexington Realty Trust to post $0.97 EPS for the current fiscal year and $1.01 EPS for the next fiscal year.
Lexington Realty Trust (NYSE LXP) opened at 10.17 on Monday. The firm has a 50-day moving average of $10.10 and a 200-day moving average of $10.25. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42. The company has a market capitalization of $2.44 billion, a P/E ratio of 30.09 and a beta of 0.96.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Wednesday, June 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is 218.76%.
In other Lexington Realty Trust news, EVP Joseph Bonventre sold 135,298 shares of the stock in a transaction dated Monday, June 12th. The stock was 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 owns 360,709 shares of the company’s stock, valued at approximately $3,653,982.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman E Robert Roskind sold 70,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $9.54, for a total value of $667,800.00. Following the completion of the sale, the chairman now directly owns 792,435 shares in the company, valued at approximately $7,559,829.90. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on LXP shares. Zacks Investment Research lowered Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 18th. Evercore ISI raised 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. BidaskClub raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $11.00 price target on shares of Lexington Realty Trust in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.60.
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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