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Last $7.84 USD
Change Today -0.18 / -2.24%
Volume 1.5M
LXP On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

lexington realty trust (LXP) Snapshot

Open
$7.94
Previous Close
$8.02
Day High
$7.96
Day Low
$7.77
52 Week High
01/28/15 - $11.75
52 Week Low
09/4/15 - $7.77
Market Cap
1.9B
Average Volume 10 Days
2.3M
EPS TTM
$0.47
Shares Outstanding
236.3M
EX-Date
06/26/15
P/E TM
16.6x
Dividend
$0.68
Dividend Yield
8.67%
Current Stock Chart for LEXINGTON REALTY TRUST (LXP)

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lexington realty trust (LXP) Details

Lexington Corporate Properties Trust operates as a self-managed and self-administered real estate investment trust (REIT). The company acquires, owns, and manages a portfolio of office, industrial, and retail properties net-leased to corporate tenants in the United States. It also provides investment advisory and asset management services to institutional investors in the net lease area. As of June 30, 2005, the company operated 185 properties and managed 2 properties. Lexington Corporate Properties Trust has elected to qualify as a REIT for federal income tax purposes. As a REIT, it would not be taxed on the portion of its income, which is distributed to shareholders, provided it distributes at least 90% of its taxable income. The company was founded in 1991 and is based in New York City.

48 Employees
Last Reported Date: 02/26/15
Founded in 1991

lexington realty trust (LXP) Top Compensated Officers

Chief Executive Officer, President, Trustee a...
Total Annual Compensation: $640.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $410.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $305.0K
Vice Chairman and Chief Investment Officer
Total Annual Compensation: $520.0K
Compensation as of Fiscal Year 2014.

lexington realty trust (LXP) Key Developments

Lexington Realty Trust and Lepercq Corporate Income Fund L.P. Enter into New $905.0 Million Credit Agreement

On September 1, 2015, Lexington Realty Trust entered into a new $905.0 million credit agreement, which the company refer to as the credit agreement, among the Trust and Lepercq Corporate Income Fund L.P., or LCIF, jointly and severally as borrowers, each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein, KeyBank National Association, or KeyBank, as agent, with KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunners, and Wells Fargo Bank, National Association, or Wells Fargo, as syndication agent, and Regions Bank, as documentation agent. The Credit Agreement replaces the Second Amended and Restated Credit Agreement, dated as of February 12, 2013, which the company refer to as the Previous Credit Agreement as the same was amended from time to time, among the Trust and LCIF, jointly and severally as borrowers, KeyBank, as agent, and each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein, and the Amended and Restated Term Loan Agreement, dated as of February 12, 2013, which the company refer to as the Previous Term Loan Agreement as the same was amended from time to time, among the Trust and LCIF, jointly and severally as borrowers, Wells Fargo, as agent, and each of the financial institutions initially a signatory thereto together with their assignees pursuant to Section 12.5 therein. The Credit Agreement provides for a new $400.0 million senior unsecured revolving credit facility, or the Revolver, which refinances and replaces the previously existing $400.0 million senior unsecured revolving credit facility, a new unsecured term loan in a principal amount of $250.0 million that matures on August 30, 2020, or the 2020 Term Loan, which refinances and replaces the previously existing $250.0 million unsecured term loan that was scheduled to mature on February 12, 2018, and a new unsecured term loan in a principal amount of $255.0 million that matures on January 11, 2021, or the 2021 Term Loan, which refinances and replaces the previously existing $255.0 million unsecured term loan that was scheduled to mature on January 11, 2019. With lender approval, the Trust can increase the size of the Revolver, the 2020 Term Loan and the 2021 Term Loan by an amount, when taken together, shall not exceed $1.81 billion. The Revolver matures August 30, 2019, but can be extended until August 30, 2020 at the Trust's option. The Credit Agreement also provides for a $40.0 million letter of credit sub-facility, a $40.0 million swing line sub-facility and the ability to request bid rate loans.

Lexington Realty Trust Declares Dividend on Series C Cumulative Convertible Preferred Stock Payable on August 17, 2015

Lexington Realty Trust declared a dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock which will be paid on August 17, 2015 to Series C Preferred Shareholders of record as of July 31, 2015.

Lexington Realty Trust Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year Ending December 31, 2015

Lexington Realty Trust reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, total gross revenues were $102.440 million, compared with total gross revenues of $97.564 million a year ago. Net income attributable to common shareholders was $47.654 million, or $0.20 per diluted share, compared to $12.742 million, or $0.05 per diluted share a year ago. Income before benefit for income taxes, equity in earnings of non-consolidated entities and discontinued was $49,854,000 against income before provision for income taxes, equity in loss of non-consolidated entities and discontinued of $19,177,000 a year ago. Income from continuing operations was $50,212,000, or $0.20 per diluted share, compared to $18,684,000 or $0.07 per diluted share a year ago. FFO available to common shareholders and unit holders–diluted was $71.028 million or $0.29 per diluted share against $62.135 million or $0.26 per diluted share a year ago. For the six months, the company’s total gross revenues were $202.456 million, compared with total gross revenues of $193.929 million a year ago. Net income attributable to common shareholders was $79.500 million, or $0.34 per diluted share, compared to $11.904 million, or $0.05 per diluted share a year ago. Income before provision for income taxes, equity in earnings of non-consolidated entities and discontinued was $82,613,000 against income before provision for income taxes, equity in earnings of non-consolidated entities and discontinued of $21,140,000 a year ago. Income from continuing operations was $82,896,000, or $0.33 per diluted share, compared to $20,338,000 or $0.07 per diluted share a year ago. FFO available to common shareholders and unit holders–diluted was $145.411 million or $0.60 per diluted share against $124.916 million or $0.52 per diluted share a year ago. The company is raising its company FFO guidance by $0.01 per share to an expected range of $1.02 to $1.06 per diluted share for the year ending December 31, 2015.

 

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Industry Analysis

LXP

Industry Average

Valuation LXP Industry Range
Price/Earnings 19.0x
Price/Sales 4.3x
Price/Book 1.3x
Price/Cash Flow 5.9x
TEV/Sales NM Not Meaningful
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