Lexington Realty Trust (NYSE:LXP) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.76-0.80 for the period. Lexington Realty Trust also updated its FY19 guidance to $0.76-0.80 EPS.
NYSE:LXP traded up $0.03 during trading hours on Friday, reaching $10.27. 1,388,668 shares of the stock were exchanged, compared to its average volume of 1,258,958. 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 company’s 50 day moving average is $9.60. Lexington Realty Trust has a 52 week low of $7.66 and a 52 week high of $10.29. The firm has a market cap of $2.32 billion, a PE ratio of 10.70, a P/E/G ratio of -19.38 and a beta of 0.89.
Lexington Realty Trust (NYSE:LXP) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.61 million. During the same quarter last year, the business posted $0.25 EPS. Lexington Realty Trust’s quarterly revenue was down 24.2% compared to the same quarter last year. Research analysts predict that Lexington Realty Trust will post 0.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.102 per share. This represents a $0.41 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Thursday, June 27th. Lexington Realty Trust’s dividend payout ratio is presently 42.71%.
LXP has been the topic of a number of research analyst reports. Stifel Nicolaus raised Lexington Realty Trust from a hold rating to a buy rating and increased their target price for the stock from $9.50 to $11.00 in a report on Wednesday. Zacks Investment Research raised Lexington Realty Trust from a hold rating to a buy rating and set a $11.00 target price on the stock in a report on Saturday, August 3rd. Finally, Evercore ISI set a $10.00 price target on Lexington Realty Trust and gave the stock a buy rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Lexington Realty Trust currently has an average rating of Buy and a consensus target price of $10.25.
In related news, EVP Joseph Bonventre sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $9.30, for a total value of $186,000.00. Following the sale, the executive vice president now 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 is available at the SEC website. Company insiders own 3.26% 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.
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