NYSE:LXP

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Proven track record average dividend payer.


Similar Companies

Share Price & News

How has Lexington Realty Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.0%

LXP

0.1%

US REITs

2.3%

US Market


1 Year Return

32.9%

LXP

19.1%

US REITs

5.6%

US Market

Return vs Industry: LXP exceeded the US REITs industry which returned 19.1% over the past year.

Return vs Market: LXP exceeded the US Market which returned 5.6% over the past year.


Shareholder returns

LXPIndustryMarket
7 Day1.0%0.1%2.3%
30 Day2.3%0.8%-1.0%
90 Day8.6%5.3%-0.7%
1 Year40.2%32.9%24.4%19.1%7.9%5.6%
3 Year27.2%3.5%33.7%16.6%45.6%36.3%
5 Year43.8%0.9%63.2%28.8%65.8%47.6%

Price Volatility Vs. Market

How volatile is Lexington Realty Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Lexington Realty Trust undervalued compared to its fair value and its price relative to the market?

36.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: LXP ($10.47) is trading below our estimate of fair value ($16.36)

Significantly Undervalued: LXP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: LXP is good value based on its PE Ratio (8.5x) compared to the REITs industry average (35.3x).

PE vs Market: LXP is good value based on its PE Ratio (8.5x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: LXP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: LXP is overvalued based on its PB Ratio (2x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Lexington Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-51.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LXP's earnings are forecast to decline over the next 3 years (-51.6% per year).

Earnings vs Market: LXP's earnings are forecast to decline over the next 3 years (-51.6% per year).

High Growth Earnings: LXP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: LXP's revenue (0.6% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: LXP's revenue (0.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: LXP's Return on Equity is forecast to be low in 3 years time (1.5%).


Next Steps

Past Performance

How has Lexington Realty Trust performed over the past 5 years?

33.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: LXP has become profitable over the past 5 years, growing earnings by 33.2% per year.

Accelerating Growth: LXP's earnings growth over the past year (1978.7%) exceeds its 5-year average (33.2% per year).

Earnings vs Industry: LXP earnings growth over the past year (1978.7%) exceeded the REITs industry 17%.


Return on Equity

High ROE: Whilst LXP's Return on Equity (22.21%) is high, this metric is skewed due to their high level of debt.


Return on Assets

ROA vs Industry: LXP has a higher Return on Assets than the REITs industry average last year.


Return on Capital Employed

ROCE Improving: LXP's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Lexington Realty Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: LXP has a high level of physical assets or inventory.

Debt Coverage by Assets: LXP's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: LXP's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if LXP has a sufficient allowance for bad loans.

Low Risk Liabilities: LXP reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if LXP has an acceptable proportion of non-loan assets held.

Low Risk Deposits: LXP has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if LXP has an appropriate level of bad loans.


Next Steps

Dividend

What is Lexington Realty Trust's current dividend yield, its reliability and sustainability?

3.91%

Current Dividend Yield


Dividend Yield vs Market

company3.9%marketbottom25%1.5%markettop25%3.8%industryaverage3.7%forecastin3Years4.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: LXP's dividend (3.92%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: LXP's dividend (3.92%) is in the top 25% of dividend payers in the US market (3.76%)

Stable Dividend: LXP's dividend payments have been volatile in the past 10 years.

Growing Dividend: LXP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (76.9%), LXP's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LXP's dividends in 3 years are forecast to be thoroughly covered by earnings (0.2% payout ratio).


Next Steps

Management

What is the CEO of Lexington Realty Trust's salary, the management and board of directors tenure and is there insider trading?

15.8yrs

Average management tenure


CEO

Will Eglin (54yo)

16.8yrs

Tenure

US$5,071,152

Compensation

Mr. T. Wilson Eglin, also known as Will, has been the Chief Executive Officer at Lexington Realty Trust since January 2003 and President since April 1996. Mr. Eglin has been the Chairman of the Board at Le ...


CEO Compensation Analysis

Compensation vs. Market: Will's total compensation ($USD5.07M) is about average for companies of similar size in the US market ($USD5.13M).

Compensation vs Earnings: Will's compensation has increased by more than 20% in the past year.


Management Age and Tenure

15.8yrs

Average Tenure

49yo

Average Age

Experienced Management: LXP's management team is seasoned and experienced (15.8 years average tenure).


Board Age and Tenure

2.7yrs

Average Tenure

56.5yo

Average Age

Experienced Board: LXP's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$186,00006 Jun 19
Joseph Bonventre
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares20,000
Max PriceUS$9.30
SellUS$167,698,23904 Mar 19
Vornado Realty L.P.
EntityCompany
Shares18,468,969
Max PriceUS$9.08

Ownership Breakdown


Management Team

  • Will Eglin (54yo)

    Chairman

    • Tenure: 16.8yrs
    • Compensation: US$5.07m
  • Pat Carroll (55yo)

    Executive VP & Chief Risk Officer

    • Tenure: 16.8yrs
    • Compensation: US$1.77m
  • Natasha Roberts (52yo)

    Executive VP & Director of Acquisitions

    • Tenure: 0yrs
  • Brendan Mullinix (44yo)

    Executive VP & Executive Officer

    • Tenure: 0yrs
  • Lara Johnson (46yo)

    Executive VP & Executive Officer

    • Tenure: 0yrs
    • Compensation: US$1.09m
  • Joseph Bonventre (43yo)

    Executive VP

    • Tenure: 15.8yrs
    • Compensation: US$1.28m
  • Heather Gentry

    Senior Vice President of Investor Relations

    • Tenure: 0yrs
  • Nabil Andrawis

    Executive VP & Director of Taxation

    • Tenure: 0yrs
  • Beth Boulerice (54yo)

    Executive VP

    • Tenure: 0.6yrs
  • Mark Cherone (37yo)

    Chief Accounting Officer

    • Tenure: 0.6yrs

Board Members

  • Will Eglin (54yo)

    Chairman

    • Tenure: 16.8yrs
    • Compensation: US$5.07m
  • Richard Frary (71yo)

    Lead Trustee

    • Tenure: 2.8yrs
    • Compensation: US$160.21k
  • Howard Roth (62yo)

    • Tenure: 1.9yrs
    • Compensation: US$152.48k
  • Jamie Handwerker (58yo)

    • Tenure: 2.6yrs
    • Compensation: US$141.49k
  • Claire Koeneman (49yo)

    • Tenure: 4.1yrs
    • Compensation: US$146.49k
  • Lawrence Gray (55yo)

    • Tenure: 3.8yrs
    • Compensation: US$147.77k

Company Information

Lexington Realty Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lexington Realty Trust
  • Ticker: LXP
  • Exchange: NYSE
  • Founded: 1986
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: US$2.639b
  • Market Cap: US$2.594b
  • Shares outstanding: 251.31m
  • Website: https://www.lxp.com

Number of Employees


Location

  • Lexington Realty Trust
  • One Penn Plaza
  • Suite 4015
  • New York
  • New York
  • 10119
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LXPNYSE (New York Stock Exchange)YesCommon SharesUSUSDOct 1993
LXNDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 1993
LXP.PRCNYSE (New York Stock Exchange)PFD CONV SER CUSUSDDec 2004

Biography

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-tena ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 23:39
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.