Wall Street brokerages expect that Lexington Realty Trust (NYSE:LXP) will post $81.93 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Lexington Realty Trust’s earnings. The highest sales estimate is $83.40 million and the lowest is $79.79 million. Lexington Realty Trust reported sales of $83.04 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The firm is expected to report its next earnings results on Thursday, February 18th.
On average, analysts expect that Lexington Realty Trust will report full-year sales of $326.60 million for the current year, with estimates ranging from $322.94 million to $330.05 million. For the next fiscal year, analysts anticipate that the company will report sales of $329.14 million, with estimates ranging from $327.76 million to $330.47 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The firm had revenue of $84.50 million for the quarter, compared to the consensus estimate of $81.82 million. Lexington Realty Trust had a net margin of 49.72% and a return on equity of 9.57%. Lexington Realty Trust’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share.
Hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC lifted its position in shares of Lexington Realty Trust by 102.4% during the third quarter. Harbor Investment Advisory LLC now owns 2,380 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,204 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Lexington Realty Trust by 31.9% during the third quarter. Van ECK Associates Corp now owns 8,249 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 1,996 shares during the last quarter. World Asset Management Inc purchased a new stake in shares of Lexington Realty Trust during the third quarter valued at about $107,000. Advisors Asset Management Inc. increased its holdings in shares of Lexington Realty Trust by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 10,635 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Standard Life Aberdeen plc purchased a new stake in Lexington Realty Trust during the 3rd quarter valued at about $131,000. 80.43% of the stock is owned by institutional investors and hedge funds.
Shares of LXP opened at $10.21 on Thursday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 17.02 and a beta of 0.63. Lexington Realty Trust has a 12-month low of $7.86 and a 12-month high of $12.08. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $10.53 and a 200-day moving average price of $10.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a dividend yield of 4.23%. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, December 30th. Lexington Realty Trust’s dividend payout ratio is presently 53.75%.
About Lexington Realty Trust
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial 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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