Analysts forecast that Lexington Realty Trust (NYSE:LXP) will announce $94.17 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lexington Realty Trust’s earnings, with the lowest sales estimate coming in at $87.90 million and the highest estimate coming in at $101.92 million. Lexington Realty Trust posted sales of $102.17 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.8%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Lexington Realty Trust will report full year sales of $400.88 million for the current fiscal year, with estimates ranging from $393.00 million to $412.37 million. For the next year, analysts forecast that the company will post sales of $357.23 million, with estimates ranging from $315.90 million to $399.93 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.16). Lexington Realty Trust had a return on equity of 19.03% and a net margin of 56.75%. The firm had revenue of $99.96 million for the quarter, compared to analysts’ expectations of $96.87 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year.
A number of analysts have recently issued reports on LXP shares. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 target price on shares of Lexington Realty Trust in a report on Thursday, August 9th. ValuEngine cut Lexington Realty Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Wells Fargo & Co upgraded Lexington Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $8.50 to $9.00 in a report on Thursday, September 27th. Finally, Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.60.
Shares of NYSE:LXP traded down $0.31 during trading on Wednesday, reaching $8.49. 1,669,527 shares of the stock were exchanged, compared to its average volume of 1,128,415. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.40 and a current ratio of 0.40. Lexington Realty Trust has a 12-month low of $7.59 and a 12-month high of $10.45. The stock has a market capitalization of $2.07 billion, a P/E ratio of 8.75, a PEG ratio of 3.84 and a beta of 0.92.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LXP. Clearbridge Investments LLC boosted its holdings in Lexington Realty Trust by 858,377.0% in the 3rd quarter. Clearbridge Investments LLC now owns 2,197,701 shares of the real estate investment trust’s stock worth $18,241,000 after acquiring an additional 2,197,445 shares during the period. BlackRock Inc. boosted its holdings in Lexington Realty Trust by 6.4% in the 2nd quarter. BlackRock Inc. now owns 36,067,793 shares of the real estate investment trust’s stock worth $314,871,000 after acquiring an additional 2,182,275 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lexington Realty Trust in the 3rd quarter worth approximately $13,722,000. Mackenzie Financial Corp purchased a new position in Lexington Realty Trust in the 3rd quarter worth approximately $7,302,000. Finally, Peregrine Capital Management LLC purchased a new position in Lexington Realty Trust in the 3rd quarter worth approximately $5,296,000. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Lexington Realty Trust Company Profile
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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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