Lexington Realty Trust (LXP) Releases FY17 Earnings Guidance
Lexington Realty Trust (NYSE:LXP) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.94-0.98 for the period, compared to the Thomson Reuters consensus estimate of $0.96.
Lexington Realty Trust (LXP) traded down 0.91% during midday trading on Wednesday, reaching $9.80. 192,830 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $10.09 and a 200 day moving average price of $10.24. The company has a market cap of $2.36 billion, a P/E ratio of 28.99 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.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.01. The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $95.41 million. Lexington Realty Trust had a net margin of 19.61% and a return on equity of 5.97%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. On average, equities analysts anticipate that Lexington Realty Trust will post $0.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Wednesday, June 28th. Lexington Realty Trust’s payout ratio is 218.76%.
A number of analysts have recently commented on LXP shares. Zacks Investment Research raised Lexington Realty Trust from a sell rating to a hold rating in a research note on Saturday, May 13th. Stifel Nicolaus reissued a hold rating and set a $10.00 price target on shares of Lexington Realty Trust in a research note 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 note on Friday, June 23rd. 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 note on Thursday, May 25th. Finally, BidaskClub lowered Lexington Realty Trust from a hold rating to a sell rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $10.60.
In other news, Chairman E Robert Roskind sold 70,000 shares of Lexington Realty Trust stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $9.54, for a total transaction of $667,800.00. Following the sale, the chairman now directly owns 792,435 shares of the company’s stock, valued at $7,559,829.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Bonventre sold 135,298 shares of Lexington Realty Trust 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 in the company, valued at $3,653,982.17. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Lexington Realty Trust Company Profile
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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