Lexington Realty Trust (LXP) Holdings Trimmed by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can decreased its holdings in Lexington Realty Trust (NYSE:LXP) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,243 shares of the real estate investment trust’s stock after selling 19,944 shares during the period. Great West Life Assurance Co. Can owned about 0.12% of Lexington Realty Trust worth $2,986,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. American International Group Inc. increased its stake in Lexington Realty Trust by 5.8% in the third quarter. American International Group Inc. now owns 171,590 shares of the real estate investment trust’s stock worth $1,754,000 after purchasing an additional 9,360 shares during the period. Systematic Financial Management LP increased its stake in Lexington Realty Trust by 6.3% in the third quarter. Systematic Financial Management LP now owns 1,209,066 shares of the real estate investment trust’s stock worth $12,357,000 after purchasing an additional 72,190 shares during the period. Cipher Capital LP purchased a new stake in Lexington Realty Trust in the third quarter worth $155,000. Macquarie Group Ltd. increased its stake in Lexington Realty Trust by 6.3% in the third quarter. Macquarie Group Ltd. now owns 5,633,077 shares of the real estate investment trust’s stock worth $57,570,000 after purchasing an additional 332,341 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Lexington Realty Trust by 3.6% in the third quarter. Ameriprise Financial Inc. now owns 2,231,817 shares of the real estate investment trust’s stock worth $22,803,000 after purchasing an additional 77,195 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
Shares of Lexington Realty Trust (NYSE LXP) traded down $0.02 during trading on Wednesday, hitting $10.03. The stock had a trading volume of 1,093,700 shares, compared to its average volume of 1,072,443. The stock has a market capitalization of $2,418.47, a price-to-earnings ratio of 10.58, a P/E/G ratio of 2.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.19 and a current ratio of 0.19. Lexington Realty Trust has a 1 year low of $9.00 and a 1 year high of $11.42.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $97.70 million for the quarter, compared to analyst estimates of $97.71 million. Lexington Realty Trust had a return on equity of 5.29% and a net margin of 17.96%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. research analysts forecast that Lexington Realty Trust will post 0.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.1775 dividend. This represents a $0.71 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s payout ratio is 259.26%.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, October 26th. Jefferies Group restated a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research note on Tuesday, November 28th. KeyCorp restated a “hold” rating on shares of Lexington Realty Trust in a research note on Sunday, September 24th. Finally, DA Davidson assumed coverage on Lexington Realty Trust in a research note on Monday, September 25th. They set a “neutral” rating and a $10.75 price target on the stock. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Lexington Realty Trust presently has an average rating of “Hold” and an average target price of $10.79.
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Lexington Realty Trust 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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