Lexington Realty Trust (NYSE:LXP) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “LXP Industrial Trust is a real estate investment trust. It focused on single-tenant industrial real estate investments. The company’s industrial portfolio includes acquisitions, development projects and build-to-suit and sale/leaseback transactions. LXP Industrial Trust, formerly known as Lexington Realty Trust, is based in NEW YORK. “

Several other equities analysts have also weighed in on LXP. Evercore ISI lowered shares of Lexington Realty Trust from an outperform rating to an in-line rating and raised their price objective for the company from $15.00 to $16.00 in a research report on Thursday, November 18th. KeyCorp lifted their price target on shares of Lexington Realty Trust from $16.00 to $17.00 and gave the company an overweight rating in a research report on Friday, November 19th.

NYSE LXP opened at $14.15 on Tuesday. The company has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $13.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 12.77 and a beta of 0.65. Lexington Realty Trust has a 52-week low of $10.11 and a 52-week high of $15.74.

Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The company had revenue of $83.42 million during the quarter, compared to analysts’ expectations of $81.23 million. Lexington Realty Trust had a return on equity of 11.61% and a net margin of 65.94%. Lexington Realty Trust’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. On average, analysts predict that Lexington Realty Trust will post 0.77 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Friday, December 31st will be given a $0.12 dividend. This is a positive change from Lexington Realty Trust’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.39%. Lexington Realty Trust’s dividend payout ratio (DPR) is currently 60.76%.

Several large investors have recently added to or reduced their stakes in LXP. Harvest Fund Management Co. Ltd acquired a new stake in shares of Lexington Realty Trust in the second quarter worth $51,000. Advisor Group Holdings Inc. grew its stake in shares of Lexington Realty Trust by 64.4% in the second quarter. Advisor Group Holdings Inc. now owns 5,058 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 1,981 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in shares of Lexington Realty Trust in the third quarter worth $69,000. Destiny Wealth Partners LLC acquired a new stake in shares of Lexington Realty Trust in the third quarter worth $82,000. Finally, US Asset Management LLC acquired a new stake in shares of Lexington Realty Trust in the third quarter worth $86,000. 98.45% of the stock is currently owned by institutional investors.

Lexington Realty Trust Company Profile

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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