Community Bank of Raymore boosted its stake in shares of Lexington Realty Trust (NYSE:LXP) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 671,000 shares of the real estate investment trust’s stock after buying an additional 7,400 shares during the period. Lexington Realty Trust makes up about 2.8% of Community Bank of Raymore’s portfolio, making the stock its 12th largest position. Community Bank of Raymore owned approximately 0.28% of Lexington Realty Trust worth $6,650,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Elkfork Partners LLC raised its position in Lexington Realty Trust by 19.0% in the first quarter. Elkfork Partners LLC now owns 11,732 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 1,876 shares during the period. GW&K Investment Management LLC acquired a new position in shares of Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC acquired a new position in shares of Lexington Realty Trust during the first quarter worth about $129,000. James Investment Research Inc. purchased a new stake in Lexington Realty Trust during the first quarter worth $131,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lexington Realty Trust by 5.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,524 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 737 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.
Lexington Realty Trust (NYSE:LXP) traded down 0.71% during midday trading on Friday, reaching $9.73. 912,782 shares of the company traded hands. The company has a 50 day moving average of $10.05 and a 200-day moving average of $10.21. The stock has a market capitalization of $2.34 billion, a P/E ratio of 72.07 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 released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $95.41 million. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities analysts anticipate that Lexington Realty Trust will post $0.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 7.19%. Lexington Realty Trust’s payout ratio is 500.00%.
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A number of equities research analysts have recently commented on LXP shares. BidaskClub downgraded Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, August 3rd. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Lexington Realty Trust in a research report on Thursday, May 18th. Evercore ISI raised Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Thursday, May 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.60.
In other Lexington Realty Trust news, EVP Joseph Bonventre sold 135,298 shares of Lexington Realty Trust stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $10.13, for a total transaction of $1,370,568.74. Following the completion of the sale, the executive vice president now directly owns 360,709 shares in the company, valued at $3,653,982.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman E Robert Roskind sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $9.54, for a total transaction of $667,800.00. Following the completion of the sale, the chairman now owns 792,435 shares of the company’s stock, valued at $7,559,829.90. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
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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