Lexington Realty Trust (NYSE:LXP) issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $95.41 million. Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Lexington Realty Trust updated its FY17 guidance to $0.94-0.98 EPS.
Shares of Lexington Realty Trust (LXP) traded down 1.22% during mid-day trading on Friday, reaching $9.72. The company had a trading volume of 1,003,330 shares. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42. The company’s 50-day moving average price is $10.01 and its 200-day moving average price is $10.18. The company has a market capitalization of $2.34 billion, a PE ratio of 72.00 and a beta of 0.96.
A number of brokerages have commented on LXP. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, May 18th. BidaskClub upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research cut Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Evercore ISI upgraded 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 note on Thursday, May 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price target 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 given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.60.
In other news, EVP Joseph Bonventre sold 135,298 shares of the firm’s 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 owns 360,709 shares of the company’s stock, valued at $3,653,982.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO T Wilson Eglin sold 24,170 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the completion of the sale, the chief executive officer now directly owns 2,223,251 shares of the company’s stock, valued at approximately $21,810,092.31. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Hillcrest Asset Management LLC boosted its position in shares of Lexington Realty Trust by 8.0% in the first quarter. Hillcrest Asset Management LLC now owns 949,020 shares of the real estate investment trust’s stock worth $9,471,000 after buying an additional 69,962 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in Lexington Realty Trust by 88.3% in the first quarter. Breton Hill Capital Ltd. now owns 174,660 shares of the real estate investment trust’s stock valued at $1,743,000 after buying an additional 81,897 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Lexington Realty Trust by 49.4% in the first quarter. Russell Investments Group Ltd. now owns 181,471 shares of the real estate investment trust’s stock valued at $1,811,000 after buying an additional 60,000 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in Lexington Realty Trust during the first quarter valued at approximately $156,000. Finally, James Investment Research Inc. acquired a new stake in shares of Lexington Realty Trust during the first quarter valued at about $131,000. 73.13% of the stock is currently owned by hedge funds and other institutional investors.
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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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