Lexington Realty Trust (LXP) Stock Rating Reaffirmed by KeyCorp
Lexington Realty Trust (NYSE:LXP)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a note issued to investors on Sunday.
Several other equities analysts have also recently commented on the company. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. BidaskClub lowered Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.63.
Lexington Realty Trust (LXP) opened at 10.335 on Friday. The stock has a 50 day moving average price of $9.90 and a 200 day moving average price of $10.00. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 76.556 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 posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm 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 9.80% and a return on equity of 2.92%. The company’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. On average, equities analysts expect that Lexington Realty Trust will post $0.32 earnings per share for the current fiscal year.
In related news, CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was 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 hyperlink. 3.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC bought a new stake in Lexington Realty Trust during the 2nd quarter worth approximately $118,000. Piedmont Investment Advisors LLC bought a new position in Lexington Realty Trust in the 1st quarter valued at $129,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lexington Realty Trust by 5.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 737 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in Lexington Realty Trust by 0.7% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 100 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Lexington Realty Trust by 86.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 6,384 shares during the last quarter. Institutional investors and hedge funds own 72.14% 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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