Lexington Realty Trust (NYSE:LXP) Posts Earnings Results, Hits Estimates

Lexington Realty Trust (NYSE:LXP) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.20 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.20, Briefing.com reports. Lexington Realty Trust had a return on equity of 21.72% and a net margin of 72.14%. The firm had revenue of $80.10 million during the quarter, compared to analyst estimates of $79.61 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. Lexington Realty Trust updated its FY 2019 guidance to $0.76-0.80 EPS and its FY19 guidance to $0.76-0.80 EPS.

NYSE:LXP traded up $0.27 during trading hours on Wednesday, hitting $9.77. 53,404 shares of the company’s stock traded hands, compared to its average volume of 1,195,810. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of -18.89 and a beta of 0.89. Lexington Realty Trust has a 52 week low of $7.66 and a 52 week high of $9.96. The company has a fifty day moving average of $9.58. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.102 per share. This represents a $0.41 annualized dividend and a yield of 4.18%. The ex-dividend date was Thursday, June 27th. Lexington Realty Trust’s dividend payout ratio is 42.71%.

LXP has been the subject of several research analyst reports. Stifel Nicolaus raised Lexington Realty Trust from a “sell” rating to a “hold” rating and set a $9.15 price objective for the company in a research note on Tuesday, May 28th. Zacks Investment Research raised Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Saturday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.54.

In related news, EVP Joseph Bonventre sold 20,000 shares of Lexington Realty Trust stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $9.30, for a total transaction of $186,000.00. Following the completion of the sale, the executive vice president now owns 362,103 shares of the company’s stock, valued at $3,367,557.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.26% of the stock is currently owned by company insiders.

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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Earnings History for Lexington Realty Trust (NYSE:LXP)

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