Northern Trust Corp Raises Holdings in Lexington Realty Trust (LXP)

Northern Trust Corp raised its position in Lexington Realty Trust (NYSE:LXP) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030,187 shares of the real estate investment trust’s stock after buying an additional 243,882 shares during the quarter. Northern Trust Corp owned 1.68% of Lexington Realty Trust worth $39,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Miles Capital Inc. grew its holdings in Lexington Realty Trust by 0.3% in the 1st quarter. Miles Capital Inc. now owns 16,411 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 44 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in Lexington Realty Trust by 0.7% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 13,600 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 100 shares in the last quarter. World Asset Management Inc grew its holdings 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 in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Lexington Realty Trust by 0.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 48,750 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 320 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in Lexington Realty Trust by 4.6% in the 1st quarter. Utah Retirement Systems now owns 18,101 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 800 shares in the last quarter. 72.14% of the stock is currently owned by hedge funds and other institutional investors.

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LXP has been the topic of a number of research reports. BidaskClub lowered Lexington Realty Trust from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Lexington Realty Trust in a report on Friday, June 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Lexington Realty Trust in a report on Thursday, July 6th. Zacks Investment Research raised Lexington Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, August 3rd. Finally, Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Lexington Realty Trust in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.63.

In other news, CEO T Wilson Eglin sold 24,170 shares of Lexington Realty Trust stock in a transaction on Monday, August 14th. The stock was sold at an average price of $9.81, for a total value of $237,107.70. Following the completion of the transaction, the chief executive officer now directly owns 2,223,251 shares in the company, valued at $21,810,092.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Shares of Lexington Realty Trust (LXP) opened at 10.54 on Friday. The stock’s 50 day moving average price is $10.11 and its 200-day moving average price is $10.02. The company has a market capitalization of $2.54 billion, a P/E ratio of 78.07 and a beta of 0.96. Lexington Realty Trust has a 52-week low of $9.00 and a 52-week high of $11.42.

Lexington Realty Trust (NYSE:LXP) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $95.41 million. Lexington Realty Trust had a net margin of 9.80% and a return on equity of 2.92%. Lexington Realty Trust’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. On average, equities analysts expect that Lexington Realty Trust will post $0.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend is Thursday, September 28th. Lexington Realty Trust’s dividend payout ratio (DPR) is presently 500.00%.

Lexington Realty Trust Profile

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.

Institutional Ownership by Quarter for Lexington Realty Trust (NYSE:LXP)

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