Lexington Realty Trust (NYSE:LXP) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Thursday, AnalystRatingsNetwork reports.
The analysts wrote, “Lexington Realty (LXP) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.”
Shares of Lexington Realty Trust (NYSE:LXP) traded down 1.52% on Thursday, hitting $11.01. The stock had a trading volume of 648,410 shares. Lexington Realty Trust has a 1-year low of $8.84 and a 1-year high of $13.82. The stock’s 50-day moving average is $11.51 and its 200-day moving average is $12.10. The company has a market cap of $2.382 billion and a P/E ratio of 13.79.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.26 by $0.01. The company had revenue of $97.90 million for the quarter, compared to the consensus estimate of $99.96 million. During the same quarter last year, the company posted $0.25 earnings per share. Lexington Realty Trust’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Lexington Realty Trust will post $1.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.17 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, December 27th. This is an increase from Lexington Realty Trust’s previous quarterly dividend of $0.15.
A number of other analysts have also recently weighed in on LXP. Analysts at Stifel Nicolaus downgraded shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, October 16th. They now have a $14.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Jefferies Group cut their price target on shares of Lexington Realty Trust from $14.00 to $13.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Finally, analysts at Ladenburg Thalmann cut their price target on shares of Lexington Realty Trust from $15.00 to $13.50 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.96.
Lexington Realty Trust (NYSE:LXP) is a self-managed and self-administered real estate investment trust (REIT).
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