Envestnet Asset Management Inc. decreased its position in shares of Lexington Realty Trust (NYSE:LXP) by 9.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 91,637 shares of the real estate investment trust’s stock after selling 9,477 shares during the period. Envestnet Asset Management Inc.’s holdings in Lexington Realty Trust were worth $884,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Management Corp acquired a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $121,000. MetLife Investment Advisors LLC acquired a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $981,000. Macquarie Group Ltd. increased its holdings in shares of Lexington Realty Trust by 0.5% during the fourth quarter. Macquarie Group Ltd. now owns 5,662,858 shares of the real estate investment trust’s stock worth $53,919,000 after buying an additional 29,781 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $154,000. Finally, Millennium Management LLC acquired a new stake in shares of Lexington Realty Trust during the fourth quarter worth approximately $10,703,000. 75.01% of the stock is owned by institutional investors.
Shares of Lexington Realty Trust stock opened at $7.82 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $1,902.07, a P/E ratio of 8.06, a P/E/G ratio of 2.25 and a beta of 0.88. Lexington Realty Trust has a fifty-two week low of $7.68 and a fifty-two week high of $10.65.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $0.1775 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date is Wednesday, March 28th. Lexington Realty Trust’s dividend payout ratio is currently 73.20%.
Several research firms have recently weighed in on LXP. ValuEngine lowered shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Lexington Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. JPMorgan Chase dropped their price objective on shares of Lexington Realty Trust from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays dropped their price objective on shares of Lexington Realty Trust from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, March 20th. Finally, Wells Fargo dropped their price objective on shares of Lexington Realty Trust from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 19th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Lexington Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $10.22.
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Lexington Realty Trust Profile
Lexington Realty Trust is a real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant commercial properties. As of December 31, 2016, the Company had equity ownership interests in approximately 195 consolidated real estate properties, located in 40 states and containing an aggregate of approximately 43.3 million square feet of space, approximately 96.0% of which was leased.
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