Lexington Realty Trust (NYSE:LXP) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 6,176,823 shares, a decrease of 24.9% from the February 28th total of 8,220,143 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,841,617 shares, the short-interest ratio is presently 2.2 days.
LXP has been the subject of a number of recent research reports. TheStreet raised Lexington Realty Trust from a “c+” rating to a “b-” rating in a report on Tuesday, February 5th. DA Davidson upgraded Lexington Realty Trust from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 22nd. Finally, Zacks Investment Research downgraded Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Lexington Realty Trust has an average rating of “Hold” and a consensus price target of $8.50.
A number of institutional investors have recently bought and sold shares of LXP. Norges Bank bought a new position in Lexington Realty Trust during the fourth quarter worth about $23,974,000. Clearbridge Investments LLC boosted its holdings in shares of Lexington Realty Trust by 858,377.0% during the third quarter. Clearbridge Investments LLC now owns 2,197,701 shares of the real estate investment trust’s stock worth $18,241,000 after acquiring an additional 2,197,445 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lexington Realty Trust during the third quarter worth approximately $13,722,000. BlackRock Inc. boosted its holdings in shares of Lexington Realty Trust by 3.0% during the third quarter. BlackRock Inc. now owns 37,141,546 shares of the real estate investment trust’s stock worth $308,276,000 after acquiring an additional 1,073,753 shares during the period. Finally, Northwood Liquid Management LP bought a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $8,280,000. Institutional investors and hedge funds own 76.50% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.10). The company had revenue of $87.25 million during the quarter, compared to the consensus estimate of $86.04 million. Lexington Realty Trust had a net margin of 57.52% and a return on equity of 18.56%. Lexington Realty Trust’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. On average, sell-side analysts expect that Lexington Realty Trust will post 0.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.102 per share. This represents a $0.41 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Thursday, March 28th. Lexington Realty Trust’s payout ratio is currently 42.71%.
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About Lexington Realty Trust
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased commercial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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