Analysts predict that Lexington Realty Trust (NYSE:LXP) will post earnings of $0.19 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lexington Realty Trust’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.19. Lexington Realty Trust posted earnings per share of $0.22 during the same quarter last year, which would indicate a negative year over year growth rate of 13.6%. The company is expected to announce its next earnings results on Wednesday, February 26th.
On average, analysts expect that Lexington Realty Trust will report full year earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.80. For the next financial year, analysts anticipate that the firm will post earnings of $0.76 per share, with EPS estimates ranging from $0.73 to $0.80. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.39. The business had revenue of $81.55 million for the quarter, compared to analysts’ expectations of $79.80 million. Lexington Realty Trust had a net margin of 66.66% and a return on equity of 16.76%. During the same quarter last year, the company posted $0.24 EPS. The company’s revenue was down 18.7% compared to the same quarter last year.
A number of research analysts recently weighed in on LXP shares. Wells Fargo & Co cut shares of Lexington Realty Trust from an “outperform” rating to a “market perform” rating and set a $10.50 target price on the stock. in a research note on Monday, August 26th. Stifel Nicolaus upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $9.50 to $11.00 in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Evercore ISI set a $10.00 target price on shares of Lexington Realty Trust and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.63.
Shares of LXP traded up $0.02 during trading hours on Wednesday, reaching $10.99. 1,019,968 shares of the stock traded hands, compared to its average volume of 1,728,158. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.31. Lexington Realty Trust has a 52-week low of $7.88 and a 52-week high of $11.19. The company’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $10.07. The company has a market cap of $2.73 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of -21.58 and a beta of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.105 per share. This is a boost from Lexington Realty Trust’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, December 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 3.82%. Lexington Realty Trust’s payout ratio is 42.71%.
In related news, EVP Lara Sweeney Johnson sold 28,271 shares of Lexington Realty Trust stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $11.12, for a total transaction of $314,373.52. Following the transaction, the executive vice president now owns 370,684 shares in the company, valued at approximately $4,122,006.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.26% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in Lexington Realty Trust by 105.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,181 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,629 shares in the last quarter. Bridger Capital Management LLC purchased a new stake in Lexington Realty Trust in the 3rd quarter worth $75,000. Point72 Asset Management L.P. purchased a new stake in Lexington Realty Trust in the 2nd quarter worth $85,000. Allianz Asset Management GmbH purchased a new stake in Lexington Realty Trust in the 2nd quarter worth $97,000. Finally, Holocene Advisors LP purchased a new stake in Lexington Realty Trust in the 2nd quarter worth $97,000. Institutional investors own 87.75% of the company’s stock.
About Lexington Realty Trust
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased commercial 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.
See Also: Should You Consider an Index Fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lexington Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexington Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.