Lexington Realty Trust (NYSE:LXP) Sees Large Increase in Short Interest

Lexington Realty Trust (NYSE:LXP) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 7,238,300 shares, an increase of 18.4% from the July 31st total of 6,111,500 shares. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is presently 4.6 days. Approximately 3.2% of the company’s stock are short sold.

A number of large investors have recently modified their holdings of the stock. Profund Advisors LLC grew its stake in shares of Lexington Realty Trust by 4.3% during the 2nd quarter. Profund Advisors LLC now owns 31,549 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 1,288 shares during the period. CWM Advisors LLC grew its stake in shares of Lexington Realty Trust by 8.4% during the 2nd quarter. CWM Advisors LLC now owns 17,961 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 1,395 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Lexington Realty Trust by 1.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 82,841 shares of the real estate investment trust’s stock worth $780,000 after purchasing an additional 1,400 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Lexington Realty Trust by 1.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 135,000 shares of the real estate investment trust’s stock worth $1,270,000 after purchasing an additional 1,400 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Lexington Realty Trust by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 324,254 shares of the real estate investment trust’s stock worth $3,051,000 after purchasing an additional 1,599 shares during the period. Institutional investors own 87.69% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Lexington Realty Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $9.50 to $11.00 in a report on Wednesday, August 7th. Wells Fargo & Co downgraded shares of Lexington Realty Trust from an “outperform” rating to a “market perform” rating and set a $10.50 price target on the stock. in a report on Monday, August 26th. Zacks Investment Research downgraded shares of Lexington Realty Trust from a “buy” rating to a “hold” rating in a report on Friday. Finally, Evercore ISI set a $10.00 price target on shares of Lexington Realty Trust and gave the stock a “buy” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Lexington Realty Trust currently has a consensus rating of “Buy” and a consensus price target of $10.63.



NYSE:LXP traded up $0.01 during midday trading on Friday, hitting $10.10. The company’s stock had a trading volume of 2,675,018 shares, compared to its average volume of 2,168,512. Lexington Realty Trust has a fifty-two week low of $7.66 and a fifty-two week high of $10.67. The firm’s 50 day moving average is $10.13 and its 200-day moving average is $9.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $2.37 billion, a P/E ratio of 10.52, a P/E/G ratio of -19.51 and a beta of 0.88.

Lexington Realty Trust (NYSE:LXP) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Lexington Realty Trust had a net margin of 84.56% and a return on equity of 23.21%. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $79.61 million. During the same quarter in the prior year, the company earned $0.25 EPS. Lexington Realty Trust’s quarterly revenue was down 24.2% on a year-over-year basis. As a group, analysts forecast that Lexington Realty Trust will post 0.79 EPS for the current year.

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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