Just How Negative is Wells Fargo Following Their Downgrade of Lexington Realty Trust (NYSE:LXP)?


Lexington Realty Trust (NYSE:LXP) Receives a Downgrade

Shares of Lexington Realty Trust (NYSE:LXP) were lowered to a “Market Perform” by equity analysts at Wells Fargo. LXP’s rating of a “Outperform” has been discontinued.

From a total of 6 analysts covering Lexington Realty (NYSE:LXP) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 44% of the ratings are positive. The highest target price is $11 while the lowest target price is $9. The mean of all analyst targets is $9.67 with a 16.71% above today’s ($8.14) stock price. Lexington Realty was the topic of 2 analyst reports since September 8, 2015 according to the firm StockzIntelligence Inc. Evercore maintained shares on September 8 with “Buy” rating.

Approximately 1.07M shares of stock traded hands. Lexington Realty Trust (NYSE:LXP) has declined 10.47% since May 12, 2015 and is downtrending. It has underperformed by 6.80% the S&P500.

The overall sentiment of institutions has decreased to 0.98 in Q2 2015. Its down 0.30, from 1.28 in 2015Q2. The ratio dived, as 25 institutions have sold all the shares of Lexington Realty Trust that they owned while 82 funds have taken shares off the table. 21 funds have purchased shares for the first time while 84 added to their positions. These institutions now hold 140.55 million shares or 18.86% less than the 173.22 million shares they owned in 2015Q2.

The Fund Cutler Capital Management Llc currently is holding shares equating to 6.32% of its total portfolio in Lexington Realty Trust representing a total of 1.70 million shares. Another fund,Shikiar Asset Management Inc, is holding a total of 696,025 shares equating to 2.91% of their holdings. Additionally, Doheny Asset Management Ca has a 540,701 share stake in Lexington Realty Trust which represents 2.27% of their total portfolio. The Fund, Financial & Investment Management Group Ltd, based out of Michigan, has also built up a stake in the stock, which represents a total of 1.92% of their total portfolio. Finally Kestrel Investment Management Corp, a fund which is based in the state of California reported a total holdings of 666,850 shares.

Lexington Realty Trust is a self-managed and self-administered real estate investment trust . The company has a market cap of $1.92 billion. The Firm owns a portfolio of equity and debt investments in single-tenant properties and land. It has 27.72 P/E ratio. It also provides investment advisory and asset management services to investors in the single-tenant area.

According to Zacks Investment Research, “LEXINGTON CORP PROPERTIES INC is a real estate investment trust engaged in the ownership, operation, management of a diverse portfolio of real properties.”