Lexington Realty Trust (LXP) Expected to Post Quarterly Sales of $101.22 Million

Brokerages forecast that Lexington Realty Trust (NYSE:LXP) will announce sales of $101.22 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Lexington Realty Trust’s earnings. The highest sales estimate is $102.32 million and the lowest is $99.50 million. Lexington Realty Trust posted sales of $97.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Lexington Realty Trust will report full-year sales of $405.09 million for the current financial year, with estimates ranging from $393.00 million to $412.37 million. For the next year, analysts expect that the firm will report sales of $375.07 million, with estimates ranging from $340.80 million to $404.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Lexington Realty Trust.

Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.25). Lexington Realty Trust had a return on equity of 1.69% and a net margin of 4.99%. The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $101.91 million. During the same quarter last year, the firm earned $0.23 EPS. Lexington Realty Trust’s revenue for the quarter was up 10.2% compared to the same quarter last year.

Several equities analysts have commented on LXP shares. ValuEngine lowered shares of Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 13th. Zacks Investment Research lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price on shares of Lexington Realty Trust in a report on Thursday, August 9th. Finally, Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and raised their target price for the company from $8.50 to $9.00 in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.17.

LXP stock traded up $0.12 during mid-day trading on Monday, hitting $8.12. The stock had a trading volume of 113,858 shares, compared to its average volume of 1,869,796. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.64. Lexington Realty Trust has a 52 week low of $7.59 and a 52 week high of $10.65. The firm has a market cap of $1.95 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.89 and a beta of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.1775 dividend. This represents a $0.71 annualized dividend and a yield of 8.74%. The ex-dividend date is Thursday, September 27th. Lexington Realty Trust’s dividend payout ratio is currently 73.20%.

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Lexington Realty Trust during the 2nd quarter valued at approximately $878,000. SG Americas Securities LLC grew its holdings in shares of Lexington Realty Trust by 75.5% during the 2nd quarter. SG Americas Securities LLC now owns 235,072 shares of the real estate investment trust’s stock valued at $2,052,000 after purchasing an additional 101,092 shares during the last quarter. Family Management Corp bought a new stake in shares of Lexington Realty Trust during the 2nd quarter valued at approximately $109,000. Rational Advisors LLC bought a new stake in shares of Lexington Realty Trust during the 2nd quarter valued at approximately $298,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Lexington Realty Trust by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,682,892 shares of the real estate investment trust’s stock valued at $13,244,000 after purchasing an additional 39,669 shares during the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

About Lexington Realty Trust

Lexington Realty Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. It also provides investment advisory and asset management services. The company was founded by E. Robert Roskind in October 1993 and is headquartered in New York, NY.

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