Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Lexington Realty Trust (LXP)
Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lexington Realty Trust (NYSE:LXP) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,984 shares of the real estate investment trust’s stock after purchasing an additional 1,460 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lexington Realty Trust were worth $148,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in LXP. Elkfork Partners LLC lifted its position in shares of Lexington Realty Trust by 19.0% during the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 1,876 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Lexington Realty Trust during the second quarter worth approximately $118,000. Piedmont Investment Advisors LLC acquired a new position in shares of Lexington Realty Trust during the first quarter worth approximately $129,000. Tocqueville Asset Management L.P. lifted its position in shares of Lexington Realty Trust by 0.7% during the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 100 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of Lexington Realty Trust by 1.8% during the first quarter. World Asset Management Inc now owns 13,870 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) opened at 10.05 on Wednesday. The company has a 50-day moving average of $9.90 and a 200 day moving average of $10.00. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 74.44 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). The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, analysts anticipate that Lexington Realty Trust will post $0.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.97%. The ex-dividend date is Thursday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 500.00%.
In related news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the sale, the chief executive officer now directly owns 2,223,251 shares in the company, valued at approximately $21,810,092.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.
LXP has been the topic of a number of research reports. Stifel Nicolaus reiterated a “hold” rating and set a $10.00 target price on shares of Lexington Realty Trust in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 target price on shares of Lexington Realty Trust in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. 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 report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.60.
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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