Oppenheimer & Co. Inc. trimmed its position in shares of Lexington Realty Trust (NYSE:LXP) by 19.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,863 shares of the real estate investment trust’s stock after selling 9,685 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lexington Realty Trust were worth $323,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LXP. Family Management Corp purchased a new position in shares of Lexington Realty Trust in the 2nd quarter valued at approximately $109,000. Wedbush Securities Inc. purchased a new position in shares of Lexington Realty Trust in the 2nd quarter valued at approximately $117,000. Paloma Partners Management Co purchased a new position in shares of Lexington Realty Trust in the 2nd quarter valued at approximately $122,000. Creative Planning purchased a new position in shares of Lexington Realty Trust in the 3rd quarter valued at approximately $128,000. Finally, Financial Counselors Inc. purchased a new position in shares of Lexington Realty Trust in the 2nd quarter valued at approximately $140,000. 73.61% of the stock is owned by institutional investors and hedge funds.
Shares of Lexington Realty Trust stock opened at $8.41 on Friday. The company has a market capitalization of $1.97 billion, a P/E ratio of 8.67, a P/E/G ratio of 4.40 and a beta of 0.84. The company has a quick ratio of 0.14, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. Lexington Realty Trust has a 52 week low of $7.59 and a 52 week high of $10.62.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). Lexington Realty Trust had a return on equity of 19.03% and a net margin of 56.75%. The business had revenue of $99.96 million for the quarter, compared to analysts’ expectations of $96.87 million. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Lexington Realty Trust will post 0.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.1775 per share. This represents a $0.71 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date was Thursday, September 27th. Lexington Realty Trust’s dividend payout ratio is presently 73.20%.
LXP has been the subject of several research analyst reports. Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $8.50 to $9.00 in a research report on Thursday, September 27th. Jefferies Financial Group raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. ValuEngine raised shares of Lexington Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.60.
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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