IFC Holdings Incorporated FL Has $1.80 Million Position in Lexington Realty Trust (NYSE:LXP)
IFC Holdings Incorporated FL boosted its position in shares of Lexington Realty Trust (NYSE:LXP) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,113 shares of the real estate investment trust’s stock after buying an additional 268 shares during the period. IFC Holdings Incorporated FL’s holdings in Lexington Realty Trust were worth $1,796,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Elkfork Partners LLC raised its stake in shares of 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 bought a new stake in shares of Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC bought a new stake in shares of Lexington Realty Trust during the first quarter worth about $129,000. James Investment Research Inc. bought a new stake in shares of Lexington Realty Trust during the first quarter worth about $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 owned by institutional investors.
Lexington Realty Trust (LXP) opened at 9.73 on Friday. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42. The firm has a 50-day moving average of $10.05 and a 200 day moving average of $10.21. The company has a market cap of $2.34 billion, a PE ratio of 72.07 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities research analysts expect that Lexington Realty Trust will post $0.35 earnings per share for the current fiscal year.
The company also recently declared 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 annualized dividend and a yield of 7.19%. The ex-dividend date was Wednesday, June 28th. Lexington Realty Trust’s dividend payout ratio is currently 500.00%.
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A number of brokerages have recently issued reports on LXP. BidaskClub upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Stifel Nicolaus restated a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Finally, Evercore ISI upgraded shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 target price on the stock in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Lexington Realty Trust currently has an average rating of “Hold” and an average price target of $10.60.
In related news, Chairman E Robert Roskind sold 70,000 shares of Lexington Realty Trust 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 transaction, the chairman now directly owns 792,435 shares of the company’s stock, valued at approximately $7,559,829.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $1,370,568.74. Following the transaction, the executive vice president now directly owns 360,709 shares of the company’s stock, 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.
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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