Lexington Realty Trust (NYSE:LXP) Expected to Post Quarterly Sales of $81.93 Million

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.

A number of analysts recently weighed in on LXP shares. Evercore ISI raised shares of Lexington Realty Trust from an “in-line” rating to an “outperform” rating and set a $12.50 price objective for the company in a research note on Wednesday, November 25th. ValuEngine lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 12th. Wells Fargo & Company raised shares of Lexington Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.50 to $12.00 in a research note on Thursday, December 10th. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, December 4th. Finally, BidaskClub lowered shares of Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.83.

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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Earnings History and Estimates for Lexington Realty Trust (NYSE:LXP)

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