HGK Asset Management Inc. purchased a new stake in Lexington Realty Trust (NYSE:LXP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 23,359 shares of the real estate investment trust’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LXP. JPMorgan Chase & Co. boosted its stake in Lexington Realty Trust by 433.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,232,107 shares of the real estate investment trust’s stock valued at $38,342,000 after purchasing an additional 3,438,659 shares during the period. Norges Bank bought a new stake in Lexington Realty Trust in the 4th quarter valued at $23,974,000. NN Investment Partners Holdings N.V. bought a new stake in Lexington Realty Trust in the 2nd quarter valued at $23,741,000. Laurion Capital Management LP bought a new stake in Lexington Realty Trust in the 1st quarter valued at $9,824,000. Finally, Millennium Management LLC lifted its position in shares of Lexington Realty Trust by 263.7% during the 4th quarter. Millennium Management LLC now owns 910,602 shares of the real estate investment trust’s stock valued at $7,476,000 after acquiring an additional 660,258 shares during the period. Institutional investors and hedge funds own 86.32% of the company’s stock.

Shares of NYSE:LXP traded up $0.08 during trading on Tuesday, reaching $9.82. 13,496 shares of the company traded hands, compared to its average volume of 1,109,017. The business’s 50 day moving average price is $9.54. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 10.22, a PEG ratio of -19.06 and a beta of 0.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.22 and a quick ratio of 0.22. Lexington Realty Trust has a 52 week low of $7.66 and a 52 week high of $9.88.

Lexington Realty Trust (NYSE:LXP) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.10). The company had revenue of $81.25 million for the quarter, compared to the consensus estimate of $80.70 million. Lexington Realty Trust had a net margin of 72.14% and a return on equity of 21.72%. The business’s revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, sell-side analysts forecast that Lexington Realty Trust will post 0.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.102 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 4.15%. Lexington Realty Trust’s payout ratio is 42.71%.

In other news, EVP Joseph Bonventre sold 20,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $9.30, for a total transaction of $186,000.00. Following the completion of the sale, the executive vice president now directly owns 362,103 shares in the company, valued at approximately $3,367,557.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

A number of analysts have recently weighed in on LXP shares. Stifel Nicolaus set a $14.00 target price on Roadrunner Transportation Systems and gave the company a “hold” rating in a research report on Tuesday, May 28th. Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Lexington Realty Trust currently has a consensus rating of “Buy” and an average target price of $9.29.

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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Institutional Ownership by Quarter for Lexington Realty Trust (NYSE:LXP)

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