BlackRock Inc. increased its holdings in shares of Lexington Realty Trust (NYSE:LXP) by 6.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,067,793 shares of the real estate investment trust’s stock after purchasing an additional 2,182,275 shares during the period. BlackRock Inc. owned 15.03% of Lexington Realty Trust worth $314,871,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canandaigua National Bank & Trust Co. bought a new position in shares of Lexington Realty Trust during the first quarter valued at approximately $112,000. Wedbush Securities Inc. bought a new position in shares of Lexington Realty Trust during the second quarter valued at approximately $117,000. Financial Counselors Inc. bought a new position in shares of Lexington Realty Trust during the second quarter valued at approximately $140,000. Element Capital Management LLC bought a new position in shares of Lexington Realty Trust during the first quarter valued at approximately $155,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Lexington Realty Trust during the second quarter valued at approximately $246,000. Hedge funds and other institutional investors own 73.50% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine upgraded shares of Lexington Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Friday, June 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price objective on shares of Lexington Realty Trust in a research note on Thursday, August 9th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.39.
Shares of LXP opened at $8.19 on Friday. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.86 and a beta of 0.81. Lexington Realty Trust has a twelve month low of $7.59 and a twelve month high of $10.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.14 and a quick ratio of 0.14.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Wednesday, August 8th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.25). The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $101.91 million. Lexington Realty Trust had a net margin of 4.99% and a return on equity of 1.69%. Lexington Realty Trust’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. equities analysts predict that Lexington Realty Trust will post 0.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.1775 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.71 annualized dividend and a yield of 8.67%. Lexington Realty Trust’s dividend payout ratio (DPR) is 73.20%.
Lexington Realty Trust Profile
Lexington Realty Trust is a real estate investment trust, which engages in financing, acquisition, and ownership of portfolio of single-tenant commercial properties. It also provides investment advisory and asset management services. The company was founded by E. Robert Roskind in October 1993 and is headquartered in New York, NY.
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