Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research note released on Thursday morning, Zacks.com reports. They currently have $11.00 target price on the real estate investment trust’s stock.
According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “
LXP has been the topic of several other research reports. Evercore ISI set a $10.00 price target on shares of Lexington Realty Trust and gave the company a buy rating in a research report on Wednesday, August 7th. Stifel Nicolaus raised shares of Lexington Realty Trust from a hold rating to a buy rating and boosted their price target for the company from $9.50 to $11.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Co cut shares of Lexington Realty Trust from an outperform rating to a market perform rating and set a $10.50 price target on the stock. in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $10.63.
Shares of LXP stock traded up $0.01 on Thursday, hitting $10.10. 2,858,931 shares of the stock traded hands, compared to its average volume of 1,740,314. The firm’s 50-day moving average price is $10.12 and its two-hundred day moving average price is $9.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $2.37 billion, a PE ratio of 10.52, a PEG ratio of -19.39 and a beta of 0.88. Lexington Realty Trust has a twelve month low of $7.66 and a twelve month high of $10.67.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $79.61 million. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The company’s revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities research analysts anticipate that Lexington Realty Trust will post 0.79 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. United Services Automobile Association lifted its position in Lexington Realty Trust by 3.9% in the second quarter. United Services Automobile Association now owns 234,394 shares of the real estate investment trust’s stock valued at $2,206,000 after buying an additional 8,900 shares during the last quarter. Frontier Wealth Management LLC purchased a new stake in Lexington Realty Trust during the second quarter worth about $626,000. Pictet Asset Management Ltd. increased its stake in Lexington Realty Trust by 21.3% during the second quarter. Pictet Asset Management Ltd. now owns 41,500 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 7,300 shares during the period. Hillcrest Asset Management LLC increased its stake in Lexington Realty Trust by 0.6% during the second quarter. Hillcrest Asset Management LLC now owns 1,455,290 shares of the real estate investment trust’s stock worth $13,694,000 after purchasing an additional 8,760 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Lexington Realty Trust during the second quarter worth about $133,000. 87.69% of the stock is currently owned by institutional investors.
Lexington Realty Trust Company Profile
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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