Panagora Asset Management Inc. raised its stake in Lexington Realty Trust (NYSE:LXP) by 75.8% during the third quarter, Holdings Channel reports. The institutional investor owned 718,045 shares of the real estate investment trust’s stock after buying an additional 309,627 shares during the period. Panagora Asset Management Inc. owned about 0.30% of Lexington Realty Trust worth $7,396,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in Lexington Realty Trust by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,345,618 shares of the real estate investment trust’s stock valued at $13,605,000 after buying an additional 85,798 shares in the last quarter. Bellwether Investment Group LLC purchased a new position in shares of Lexington Realty Trust during the second quarter worth approximately $343,000. Amalgamated Bank boosted its position in shares of Lexington Realty Trust by 23.4% in the second quarter. Amalgamated Bank now owns 27,189 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 5,147 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Lexington Realty Trust by 15.9% in the second quarter. Legal & General Group Plc now owns 640,375 shares of the real estate investment trust’s stock worth $6,467,000 after buying an additional 87,808 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Lexington Realty Trust by 15.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 177,397 shares of the real estate investment trust’s stock worth $1,793,000 after buying an additional 23,665 shares in the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.
Lexington Realty Trust (NYSE:LXP) traded up 1.63% during mid-day trading on Friday, hitting $11.19. The company had a trading volume of 1,222,783 shares. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 26.45 and a beta of 0.94. The firm’s 50 day moving average is $10.79 and its 200 day moving average is $10.46. Lexington Realty Trust has a 52 week low of $6.78 and a 52 week high of $11.20.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Wednesday, December 28th. Lexington Realty Trust’s payout ratio is 159.09%.
A number of research analysts have recently commented on the company. Barclays PLC cut Lexington Realty Trust from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $11.00 to $10.00 in a research report on Monday, January 23rd. Zacks Investment Research raised Lexington Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 2nd. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.33.
In other news, EVP Joseph Bonventre sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $10.50, for a total value of $52,500.00. Following the transaction, the executive vice president now directly owns 356,438 shares in the company, valued at approximately $3,742,599. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.
About Lexington Realty Trust
Lexington Realty Trust is a self-managed and self-administered real estate investment trust (REIT). The Company owns a portfolio of equity and debt investments in single-tenant properties and land. The Company’s segment is single-tenant real estate assets. The Company also provides investment advisory and asset management services to investors in the single-tenant area.
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