Bank of America Merrill Lynch Analysts Initiate Coverage on Lexington Realty Trust (LXP)
Thursday, July 14, 2021 1:31 PM

Equities research analysts at Bank of America Merrill Lynch initiated coverage on shares of Lexington Realty Trust (NYSE: LXP) in a research note to investors on Thursday. The analysts set a "buy" rating on the stock.

Separately, analysts at Stifel Nicolaus upgraded shares of Lexington Realty Trust from a "hold" rating to a "buy" rating in a research note to investors on Thursday, June 16th. They now have a $10.00 price target on the stock. Also, analysts at Keefe, Bruyette & Woods, Inc reiterated an "outperform" rating on shares of Lexington Realty Trust in a research note to investors on Monday, May 16th.

Shares of Lexington Realty Trust traded down 0.39% during mid-day trading on Friday, hitting $8.9547. Lexington Realty Trust has a 52 week low of $5.69 and a 52 week high of $10.14. The stock's 50-day moving average is $9.06 and its 200-day moving average is $9.0. The company has a market cap of $1.319 billion.

Lexington Realty Trust last announced its quarterly results on Thursday, May 5th. The company reported $0.25 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.23 EPS by $0.02. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 1.30% on a year-over-year basis. On average, analysts predict that Lexington Realty Trust will post $0.23 EPS next quarter.

Lexington Realty Trust (Lexington) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is the acquisition, ownership and management of a geographically diverse portfolio of net-leased office, industrial and retail properties. In addition, Lexington acquires and holds investments in loan assets and debt securities related to real estate. As of December 31, 2009, the Company had ownership interests in approximately 210 consolidated real estate properties, located in 40 states and the Netherlands, which contained an aggregate of approximately 38.3 million square feet of space, approximately 91.5% of which was subject to a lease. The Company is structured as an umbrella partnership REIT (UPREIT), and a portion of its business is conducted through its three operating partnership subsidiaries: Lepercq Corporate Income Fund L.P., Lepercq Corporate Income Fund II L.P. and Net 3 Acquisition L.P.

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