Zacks Investment Research upgraded shares of Lexington Realty Trust (NYSE:LXP) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. Zacks Investment Research currently has $12.00 target price on the real estate investment trust’s stock.

According to Zacks, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties. “

Several other research analysts have also recently commented on LXP. Evercore ISI set a $10.00 target price on Lexington Realty Trust and gave the stock a buy rating in a research report on Wednesday, August 7th. Wells Fargo & Co cut Lexington Realty Trust from an outperform rating to a market perform rating and set a $10.50 target price for the company. in a research report on Monday, August 26th. Finally, Stifel Nicolaus raised Lexington Realty Trust from a hold rating to a buy rating and raised their target price for the stock from $9.50 to $11.00 in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $10.88.

Shares of LXP stock opened at $10.36 on Thursday. The stock has a market cap of $2.44 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of -20.13 and a beta of 0.88. Lexington Realty Trust has a one year low of $7.66 and a one year high of $10.67. The stock has a fifty day moving average price of $10.20 and a 200 day moving average price of $9.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.13 and a quick ratio of 0.13.

Lexington Realty Trust (NYSE:LXP) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $79.61 million. Lexington Realty Trust had a return on equity of 23.21% and a net margin of 84.56%. Lexington Realty Trust’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Equities research analysts anticipate that Lexington Realty Trust will post 0.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.102 per share. The ex-dividend date is Friday, September 27th. This represents a $0.41 annualized dividend and a yield of 3.94%. Lexington Realty Trust’s dividend payout ratio is currently 42.71%.

Institutional investors have recently added to or reduced their stakes in the business. Bremer Bank National Association acquired a new position in Lexington Realty Trust during the first quarter worth $37,000. Point72 Asset Management L.P. acquired a new position in Lexington Realty Trust during the second quarter worth $85,000. Allianz Asset Management GmbH acquired a new position in Lexington Realty Trust during the second quarter worth $97,000. Holocene Advisors LP acquired a new position in Lexington Realty Trust during the second quarter worth $97,000. Finally, Marshall Wace North America L.P. acquired a new position in Lexington Realty Trust during the first quarter worth $105,000. Hedge funds and other institutional investors own 87.72% 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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Analyst Recommendations for Lexington Realty Trust (NYSE:LXP)

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