Brokerages Set Lexington Realty Trust (LXP) Target Price at $8.60

Shares of Lexington Realty Trust (NYSE:LXP) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.60.

Several research analysts recently commented on LXP shares. ValuEngine cut Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 13th. Zacks Investment Research cut Lexington Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Jefferies Financial Group reissued a “hold” rating and set a $9.00 price target on shares of Lexington Realty Trust in a research report on Thursday, August 9th. Finally, Wells Fargo & Co raised Lexington Realty Trust from a “market perform” rating to an “outperform” rating and increased their price target for the company from $8.50 to $9.00 in a research report on Thursday, September 27th.

NYSE LXP traded up $0.11 during trading hours on Wednesday, hitting $8.10. 21,266 shares of the company traded hands, compared to its average volume of 1,250,765. Lexington Realty Trust has a twelve month low of $7.59 and a twelve month high of $10.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $1.99 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85.

Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.25). Lexington Realty Trust had a net margin of 4.99% and a return on equity of 1.69%. The company had revenue of $105.50 million for the quarter, compared to analyst estimates of $101.91 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Lexington Realty Trust will post 0.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.1775 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.71 annualized dividend and a yield of 8.77%. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 73.20%.

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. bought a new stake in Lexington Realty Trust in the second quarter valued at approximately $878,000. SG Americas Securities LLC raised its stake in Lexington Realty Trust by 75.5% in the second quarter. SG Americas Securities LLC now owns 235,072 shares of the real estate investment trust’s stock valued at $2,052,000 after buying an additional 101,092 shares during the period. Rational Advisors LLC bought a new stake in Lexington Realty Trust in the second quarter valued at approximately $298,000. Family Management Corp bought a new stake in Lexington Realty Trust in the second quarter valued at approximately $109,000. Finally, WINTON GROUP Ltd raised its stake in Lexington Realty Trust by 76.3% in the second quarter. WINTON GROUP Ltd now owns 761,154 shares of the real estate investment trust’s stock valued at $6,645,000 after buying an additional 329,415 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

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Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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