Legal & General Group Plc raised its position in Lexington Realty Trust (NYSE:LXP) by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,142,598 shares of the real estate investment trust’s stock after buying an additional 67,623 shares during the period. Legal & General Group Plc owned about 0.47% of Lexington Realty Trust worth $11,679,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. RMR Advisors LLC boosted its position in Lexington Realty Trust by 17.7% in the 3rd quarter. RMR Advisors LLC now owns 399,058 shares of the real estate investment trust’s stock valued at $4,078,000 after buying an additional 60,000 shares during the last quarter. World Asset Management Inc boosted its position in Lexington Realty Trust by 1.0% in the 2nd quarter. World Asset Management Inc now owns 14,014 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 144 shares during the last quarter. Prudential Financial Inc. boosted its position in Lexington Realty Trust by 10.6% in the 2nd quarter. Prudential Financial Inc. now owns 2,552,690 shares of the real estate investment trust’s stock valued at $25,297,000 after buying an additional 245,469 shares during the last quarter. Forsta AP Fonden boosted its position in Lexington Realty Trust by 65.7% in the 3rd quarter. Forsta AP Fonden now owns 174,800 shares of the real estate investment trust’s stock valued at $1,786,000 after buying an additional 69,300 shares during the last quarter. Finally, IndexIQ Advisors LLC boosted its position in Lexington Realty Trust by 10.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 223,248 shares of the real estate investment trust’s stock valued at $2,212,000 after buying an additional 21,116 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.
LXP has been the topic of a number of recent research reports. Zacks Investment Research upgraded Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday, October 26th. Jefferies Group reiterated a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a research report on Tuesday, October 24th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Tuesday, November 28th. KeyCorp reiterated a “hold” rating on shares of Lexington Realty Trust in a research report on Sunday, September 24th. Finally, DA Davidson initiated coverage on Lexington Realty Trust in a research report on Monday, September 25th. They issued a “neutral” rating and a $10.75 price target on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Lexington Realty Trust has an average rating of “Hold” and a consensus target price of $10.79.
Lexington Realty Trust (LXP) traded down $0.20 during trading hours on Tuesday, hitting $10.05. The stock had a trading volume of 1,353,500 shares, compared to its average volume of 1,072,354. Lexington Realty Trust has a 1-year low of $9.00 and a 1-year high of $11.42. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market cap of $2,466.60, a price-to-earnings ratio of 10.79, a P/E/G ratio of 2.68 and a beta of 0.96.
Lexington Realty Trust (NYSE:LXP) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Lexington Realty Trust had a return on equity of 5.29% and a net margin of 17.96%. The business had revenue of $97.70 million for the quarter, compared to analyst estimates of $97.71 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was down 8.1% on a year-over-year basis. sell-side analysts predict that Lexington Realty Trust will post 0.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.1775 per share. This represents a $0.71 annualized dividend and a yield of 7.06%. The ex-dividend date is Thursday, December 28th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.18. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 259.26%.
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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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