Brokerages forecast that Lexington Realty Trust (NYSE:LXP) will report earnings per share (EPS) of $0.25 for the current quarter, Zacks reports. Four analysts have issued estimates for Lexington Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.26. Lexington Realty Trust posted earnings per share of ($0.11) in the same quarter last year, which indicates a positive year over year growth rate of 327.3%. The company is expected to issue its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Lexington Realty Trust will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.94 to $0.98. For the next fiscal year, analysts forecast that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.98 to $1.04. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. The firm had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $95.41 million. During the same quarter last year, the firm posted $0.29 EPS. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. BidaskClub raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, August 3rd. DA Davidson assumed coverage on shares of Lexington Realty Trust in a report on Monday, September 25th. They set a “neutral” rating and a $10.75 price target on the stock. KeyCorp reissued a “hold” rating on shares of Lexington Realty Trust in a report on Sunday, September 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $11.00 price target on shares of Lexington Realty Trust in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.63.
In other Lexington Realty Trust news, CEO T Wilson Eglin sold 24,170 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $9.81, for a total transaction of $237,107.70. Following the transaction, the chief executive officer now directly owns 2,223,251 shares of the company’s stock, valued at $21,810,092.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Lexington Realty Trust by 0.6% in the second quarter. Vanguard Group Inc. now owns 39,946,886 shares of the real estate investment trust’s stock worth $395,874,000 after buying an additional 251,811 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Lexington Realty Trust by 8,779.8% in the first quarter. BlackRock Inc. now owns 31,979,546 shares of the real estate investment trust’s stock worth $319,155,000 after buying an additional 31,619,409 shares in the last quarter. State Street Corp lifted its stake in shares of Lexington Realty Trust by 2.3% in the second quarter. State Street Corp now owns 6,446,167 shares of the real estate investment trust’s stock worth $63,887,000 after buying an additional 143,909 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Lexington Realty Trust by 2.7% in the second quarter. Macquarie Group Ltd. now owns 5,300,736 shares of the real estate investment trust’s stock worth $52,530,000 after buying an additional 140,478 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Lexington Realty Trust by 6.4% in the second quarter. Northern Trust Corp now owns 4,030,187 shares of the real estate investment trust’s stock worth $39,939,000 after buying an additional 243,882 shares in the last quarter. 72.14% of the stock is currently owned by institutional investors and hedge funds.
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Lexington Realty Trust (NYSE LXP) traded up 0.47% on Friday, hitting $10.58. 861,528 shares of the company were exchanged. The company has a market capitalization of $2.55 billion, a P/E ratio of 78.37 and a beta of 0.96. The firm’s 50 day moving average is $10.07 and its 200 day moving average is $10.01. Lexington Realty Trust has a 52 week low of $9.00 and a 52 week high of $11.42.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Thursday, September 28th. Lexington Realty Trust’s payout ratio is 500.00%.
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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