Equities analysts forecast that Lexington Realty Trust (NYSE:LXP) will post earnings of $0.25 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Lexington Realty Trust’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.23. Lexington Realty Trust posted earnings of ($0.11) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 327.3%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Lexington Realty Trust will report full year earnings of $0.96 per share for the current year, with EPS estimates ranging from $0.94 to $0.98. For the next fiscal year, analysts forecast that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.98 to $1.04. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last posted its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). Lexington Realty Trust had a return on equity of 2.92% and a net margin of 9.80%. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $95.41 million. During the same quarter last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis.
LXP has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $10.00 target price on shares of Lexington Realty Trust in a research note on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and issued a $11.00 target price on shares of Lexington Realty Trust in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Lexington Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Lexington Realty Trust in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Lexington Realty Trust has a consensus rating of “Hold” and a consensus price target of $10.63.
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Lexington Realty Trust (LXP) traded down 0.95% during mid-day trading on Friday, hitting $10.39. The stock had a trading volume of 741,229 shares. Lexington Realty Trust has a one year low of $9.00 and a one year high of $11.42. The company has a 50 day moving average price of $10.03 and a 200 day moving average price of $10.01. The stock has a market cap of $2.50 billion, a P/E ratio of 76.96 and a beta of 0.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.70 annualized dividend and a yield of 6.74%. Lexington Realty Trust’s dividend payout ratio (DPR) is 500.00%.
In related news, CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the sale, the chief executive officer now owns 2,223,251 shares in the company, valued at $21,810,092.31. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC acquired a new stake in Lexington Realty Trust during the second quarter worth about $118,000. Piedmont Investment Advisors LLC acquired a new stake in Lexington Realty Trust during the first quarter worth about $129,000. Tocqueville Asset Management L.P. raised its stake in Lexington Realty Trust by 0.7% during the second quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 100 shares during the period. Riverhead Capital Management LLC raised its stake in Lexington Realty Trust by 86.3% during the second quarter. Riverhead Capital Management LLC now owns 13,784 shares of the real estate investment trust’s stock worth $137,000 after acquiring an additional 6,384 shares during the period. Finally, World Asset Management Inc raised its stake in Lexington Realty Trust by 1.8% during the first quarter. World Asset Management Inc now owns 13,870 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 249 shares during the period. Hedge funds and other institutional investors own 72.14% of the company’s stock.
About Lexington Realty Trust
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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