Lexington Realty Trust (NYSE:LXP) announced a quarterly dividend on Friday, September 14th, Wall Street Journal reports. Shareholders of record on Friday, September 28th will be paid a dividend of 0.1775 per share by the real estate investment trust on Monday, October 15th. This represents a $0.71 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend is Thursday, September 27th.
Lexington Realty Trust has increased its dividend by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 7 years. Lexington Realty Trust has a payout ratio of 74.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lexington Realty Trust to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.71 annual dividend with an expected future payout ratio of 86.6%.
Shares of NYSE:LXP opened at $8.02 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.14 and a quick ratio of 0.14. Lexington Realty Trust has a 52-week low of $7.59 and a 52-week high of $10.65. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.94 and a beta of 0.85.
Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.25). Lexington Realty Trust had a net margin of 4.99% and a return on equity of 1.69%. The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $101.91 million. During the same period last year, the business earned $0.23 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Lexington Realty Trust will post 0.95 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Lexington Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Monday. Wells Fargo & Co upgraded Lexington Realty Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $8.50 to $9.00 in a research note on Thursday, September 27th. Zacks Investment Research upgraded Lexington Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Finally, Jefferies Financial Group restated a “hold” rating and set a $9.00 price objective on shares of Lexington Realty Trust in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.17.
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 portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions.
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