Lexington Realty Trust (LXP) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a strong sell rating in a report issued on Tuesday morning.

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. “

Several other equities analysts have also commented on LXP. ValuEngine raised shares of Lexington Realty Trust from a strong sell rating to a sell rating in a report on Friday, June 22nd. Jefferies Financial Group raised shares of Lexington Realty Trust from a hold rating to a buy rating in a report on Friday, October 12th. Finally, Wells Fargo & Co raised shares of Lexington Realty Trust from a market perform rating to an outperform rating and increased their target price for the company from $8.50 to $9.00 in a report on Thursday, September 27th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $9.17.

Shares of LXP stock traded up $0.05 on Tuesday, hitting $7.88. 3,269 shares of the company’s stock traded hands, compared to its average volume of 2,009,236. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.14 and a current ratio of 0.14. Lexington Realty Trust has a one year low of $7.59 and a one year high of $10.64. The firm has a market cap of $1.89 billion, a P/E ratio of 8.12, a P/E/G ratio of 4.12 and a beta of 0.85.

Lexington Realty Trust (NYSE:LXP) last released its earnings results on Wednesday, August 8th. The real estate investment trust reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $101.91 million. During the same period in the prior year, the business posted $0.23 EPS. Lexington Realty Trust’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that Lexington Realty Trust will post 0.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a dividend yield of 9.01%. The ex-dividend date of this dividend was 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 stock. Family Management Corp bought a new stake in Lexington Realty Trust in the 2nd quarter worth $109,000. Wedbush Securities Inc. bought a new stake in Lexington Realty Trust in the 2nd quarter worth $117,000. Paloma Partners Management Co bought a new stake in Lexington Realty Trust in the 2nd quarter worth $122,000. Financial Counselors Inc. bought a new stake in Lexington Realty Trust in the 2nd quarter worth $140,000. Finally, Verition Fund Management LLC bought a new stake in Lexington Realty Trust in the 2nd quarter worth $154,000. 73.46% 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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.

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