Lexington Realty Trust (NYSE:LXP) Upgraded to “Buy” at Zacks Investment Research

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.

Read More: What is the Current Ratio?

Get a free copy of the Zacks research report on Lexington Realty Trust (LXP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.