Lexington Realty Trust (NYSE:LXP) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.76-0.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.78. Lexington Realty Trust also updated its FY 2019 guidance to $0.76-0.80 EPS.
Shares of NYSE LXP traded up $0.03 during mid-day trading on Friday, hitting $10.27. 1,388,668 shares of the company traded hands, compared to its average volume of 1,258,958. Lexington Realty Trust has a 1 year low of $7.66 and a 1 year high of $10.29. The firm has a market cap of $2.32 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of -19.38 and a beta of 0.89. The company has a quick ratio of 0.22, a current ratio of 0.12 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $9.60.
Lexington Realty Trust (NYSE:LXP) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. The business had revenue of $80.10 million during the quarter, compared to the consensus estimate of $79.61 million. During the same period in the prior year, the business posted $0.25 earnings per share. Lexington Realty Trust’s revenue was down 24.2% compared to the same quarter last year. As a group, equities analysts expect that Lexington Realty Trust will post 0.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.102 per share. This represents a $0.41 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, June 27th. Lexington Realty Trust’s dividend payout ratio is 42.71%.
Several equities research analysts have recently commented on LXP shares. Evercore ISI set a $10.00 target price on Lexington Realty Trust and gave the company a buy rating in a report on Wednesday. Stifel Nicolaus raised Lexington Realty Trust from a hold rating to a buy rating and upped their target price for the company from $9.50 to $11.00 in a report on Wednesday. Finally, Zacks Investment Research raised Lexington Realty Trust from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Saturday, August 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $10.25.
In related news, EVP Joseph Bonventre sold 20,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $9.30, for a total value of $186,000.00. Following the completion of the sale, the executive vice president now directly owns 362,103 shares of the company’s stock, valued at approximately $3,367,557.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.26% of the stock is currently owned by corporate insiders.
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.
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