Wall Street brokerages expect Lexington Realty Trust (NYSE:LXP) to report sales of $80.11 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Lexington Realty Trust's earnings, with the lowest sales estimate coming in at $78.92 million and the highest estimate coming in at $81.30 million. Lexington Realty Trust posted sales of $81.79 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The firm is expected to issue its next earnings results before the market opens on Thursday, August 5th.
According to Zacks, analysts expect that Lexington Realty Trust will report full-year sales of $330.74 million for the current fiscal year, with estimates ranging from $330.48 million to $331.00 million. For the next year, analysts forecast that the business will post sales of $331.71 million, with estimates ranging from $328.50 million to $334.92 million. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that that provide coverage for Lexington Realty Trust.
Lexington Realty Trust (NYSE:LXP) last released its quarterly earnings results on Friday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). The company had revenue of $92.60 million during the quarter, compared to analysts' expectations of $81.68 million. Lexington Realty Trust had a net margin of 60.26% and a return on equity of 11.10%. The company's quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share.
Separately, Zacks Investment Research downgraded Lexington Realty Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, June 1st.
Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Lexington Realty Trust by 31.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,819,734 shares of the real estate investment trust's stock worth $31,327,000 after acquiring an additional 673,168 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Lexington Realty Trust by 24.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 282,878 shares of the real estate investment trust's stock worth $3,143,000 after acquiring an additional 55,902 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Lexington Realty Trust by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,368,837 shares of the real estate investment trust's stock worth $57,017,000 after acquiring an additional 555,403 shares during the period. Renaissance Technologies LLC grew its stake in shares of Lexington Realty Trust by 278.9% during the 1st quarter. Renaissance Technologies LLC now owns 907,082 shares of the real estate investment trust's stock worth $10,078,000 after acquiring an additional 667,700 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Lexington Realty Trust by 23.3% in the 1st quarter. Teacher Retirement System of Texas now owns 29,880 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 5,644 shares during the period. Institutional investors own 94.41% of the company's stock.
Shares of NYSE:LXP opened at $12.75 on Thursday. The company has a market cap of $3.54 billion, a P/E ratio of 17.71, a PEG ratio of 8.09 and a beta of 0.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.25 and a quick ratio of 0.25. The company has a fifty day simple moving average of $12.39. Lexington Realty Trust has a 1 year low of $9.82 and a 1 year high of $13.03.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were paid a dividend of $0.1075 per share. The ex-dividend date was Tuesday, June 29th. This represents a $0.43 annualized dividend and a dividend yield of 3.37%. Lexington Realty Trust's payout ratio is 56.58%.
About Lexington Realty Trust
Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a portfolio of real estate assets consisting primarily of equity investments in single-tenant net-leased industrial 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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