Brokerages Set Lexington Realty Trust (LXP) Target Price at $8.50

Shares of Lexington Realty Trust (NYSE:LXP) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $8.50.

Several equities analysts recently issued reports on LXP shares. ValuEngine downgraded shares of Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Wells Fargo & Co raised shares of Lexington Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $8.50 to $9.00 in a report on Thursday, September 27th. 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, Zacks Investment Research downgraded shares of Lexington Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 16th.

NYSE:LXP opened at $8.38 on Monday. The stock has a market cap of $2.02 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 3.73 and a beta of 0.92. Lexington Realty Trust has a 52 week low of $7.59 and a 52 week high of $9.94. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44.

Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings data on Tuesday, November 6th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.16). The business had revenue of $99.96 million for the quarter, compared to the consensus estimate of $96.87 million. Lexington Realty Trust had a return on equity of 19.03% and a net margin of 56.75%. Lexington Realty Trust’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. On average, equities research analysts expect that Lexington Realty Trust will post 0.94 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a yield of 8.47%. The ex-dividend date is Friday, December 28th. Lexington Realty Trust’s dividend payout ratio is currently 73.20%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Lexington Realty Trust by 3.0% in the 3rd quarter. BlackRock Inc. now owns 37,141,546 shares of the real estate investment trust’s stock valued at $308,276,000 after acquiring an additional 1,073,753 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lexington Realty Trust by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,555,532 shares of the real estate investment trust’s stock valued at $29,511,000 after acquiring an additional 82,443 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Lexington Realty Trust by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,479,074 shares of the real estate investment trust’s stock valued at $28,875,000 after acquiring an additional 12,654 shares in the last quarter. Clearbridge Investments LLC increased its position in Lexington Realty Trust by 858,377.0% in the 3rd quarter. Clearbridge Investments LLC now owns 2,197,701 shares of the real estate investment trust’s stock valued at $18,241,000 after acquiring an additional 2,197,445 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in Lexington Realty Trust by 0.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,792,994 shares of the real estate investment trust’s stock valued at $14,882,000 after acquiring an additional 9,077 shares in the last quarter. 74.97% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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