Lexington Realty Trust (LXP) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research report released on Friday, Zacks.com reports. Zacks Investment Research currently has $10.00 price objective on the real estate investment trust’s stock.

According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “

A number of other analysts have also weighed in on LXP. DA Davidson upgraded shares of Lexington Realty Trust from a neutral rating to a buy rating in a research note on Tuesday, January 22nd. TheStreet upgraded shares of Lexington Realty Trust from a c+ rating to a b- rating in a research note on Tuesday, February 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $9.33.

NYSE:LXP opened at $9.16 on Friday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 10.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.22 and a quick ratio of 0.22. Lexington Realty Trust has a fifty-two week low of $7.66 and a fifty-two week high of $9.70.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.10). The firm had revenue of $81.25 million for the quarter, compared to the consensus estimate of $80.70 million. Lexington Realty Trust had a net margin of 72.14% and a return on equity of 21.72%. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that Lexington Realty Trust will post 0.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.102 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.41 dividend on an annualized basis and a yield of 4.45%. Lexington Realty Trust’s dividend payout ratio is currently 42.71%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bremer Trust National Association purchased a new stake in shares of Lexington Realty Trust during the 4th quarter valued at about $34,000. Bremer Bank National Association purchased a new stake in shares of Lexington Realty Trust during the 1st quarter valued at about $37,000. Quadrant Capital Group LLC boosted its holdings in shares of Lexington Realty Trust by 842.1% during the 1st quarter. Quadrant Capital Group LLC now owns 10,325 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 9,229 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of Lexington Realty Trust during the 1st quarter valued at about $100,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Lexington Realty Trust during the 4th quarter valued at about $95,000. 76.72% of the stock is currently owned by hedge funds and other institutional investors.

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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